Thursday, August 15, 2013

Home Inspection VS Appraisal

Home Inspection versus Appraisal. There is a difference!!
A Home Inspection is typically done after all the terms of the sale have been negotiated and before closing but is ordered by the buyer of the home. The Inspection is done within an alloted time period, at the buyers expense and can make or break the deal. The Inspector is of the buyers choice and can be anyone that the buyer is comfortable with. The report is the property of the buyer and doesn't need to shared with anyone else. The Inspector is looking for issues with the home that are safety, health or structural concerns that are usually not seen when a buyer walks through the home. For an example maybe the furnace isn't running right or an outlet is wired wrong. Those would be safety concerns. The report is usually broken down to primary concerns like those mentioned; secondary concerns and maintenance. Secondary concerns would be things to keep an eye on in the future and maintenance would be things like a dirty furnace filter or leaky faucet. An Appraisal is ordered by the buyers lender and is a cost of the buyers of the property. They are licensed by the State of Minnesota and will take into consideration many things in their appraisal. The sole purpose is to determine the value of the home to protect the lender and buyer in the transaction so that no one is over paying for the home. An appraisal determines the value and the Home Inspection determines the condition of the home.

State Fair starts next week already
The Vikings have broke Training Camp
High School practice is in full swing
4 1/2 months till Christmas

Hardees on the North end by Wal-Mart is coming along and opening soon. The apartment building across Hy-Vee is really going up quick with more apartments to follow in town.
Farmers Markets are brimming with fresh local produce and are open three days a week in town.

Shop local, buy local, borrow local


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