A home inspection evaluates the condition of the home and checks all major structural components like the foundation, roof, plumbing, electrical, and heating system. Getting a home inspection is not required, but is an important step in the home buying process and is always recommended. Before a Bungalo home is listed, we pay an independent inspector to do a thorough inspection of the home and share a copy of the inspection report in our document vault.
The home appraisal is separate from the home inspection and has a different purpose. Home appraisals are meant to provide lenders and home buyers with an expert estimate of the value of the home. Typically this estimate is based on recent sales of similar homes, within the same neighborhood. Most lenders require an appraisal as part of the loan approval process and are required to provide you with a copy of the report.