Contact Helana to get a free home appraisal of your property. Free appraisals are available in the Sunshine Coast and Brisbane regions.
A home appraisal is an essential tool for anyone buying or selling a home. It provides an accurate assessment of the property’s value and helps sellers set a realistic price and buyers secure financing. The benefits include:
- Helping sellers set a realistic price and buyers secure financing.
- Identifying potential maintenance issues.
- Providing peace of mind during the buying or selling process.
- Ensuring the home selling price is an accurate representation of the home’s condition, surrounding location, and neighbourhood.
- Helping the homebuyer’s lender validate financing for the purchase.
- Protecting the lender’s security interest in the home by ensuring that the home’s value meets or exceeds the loan amount they are willing to lend to you.
- Providing an objective, third party opinion of a property’s current Market Value
The main difference between a home appraisal and inspection is that an appraisal deals with the value of a home, while an inspection deals with the condition of the home. An appraisal determines the market value of a home based on factors like location, size, condition, and comparison with similar properties. An inspection examines the condition of the home and its major components according to predetermined criteria.
Home appraisals benefit both you and your mortgage lender while a home inspection is solely for your benefit. An inspector won’t make notes about the value, but they’ll tell you about the condition of the home so you know about any major or minor flaws.