Appraisals and Inspections – What is the Difference?
As your trusted title company at the Lake of the Ozarks since 1984, we are asked this question a lot by our clients during the process of closing on a house at the Lake of the Ozarks . While appraisals and inspections both involve taking a close look at the home you are buying, they each serve different purposes. The reason for an appraisal is to determine the value of your home at the Lake of the Ozarks . The purpose behind an inspection is to get a detailed understanding of the condition or quality of the home you are buying. The value of your new home will be important to your lender because they want to know they are not loaning more than the property is worth. The inspection will be of great interest to you because you want to know there is no major problem with the house that you would consider a dealbreaker. If you are interested in learning more about how appraisals and home inspections at the Lake of the Ozarks work, keep reading this blog! Appraisers Look...