Home Inspections Vs House Appraisals in Toronto

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Home Appraisal vs. Home Inspection What You
Should to Know
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The terms home inspection and home appraisal
play significant roles in the buying and selling
process of a home. But, often home buyers confuse
home inspection with the inspection done by an
appraiser who provides an appraisal report.
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3
Home Inspection Protects the prospective buyer
from purchasing a home with structural defects
and other major problems. Home Appraisal
Protects the lender from paying more than the
house is worth.
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4
Home Appraisal A real estate appraisal is an
impartial analysis performed by a real estate
appraiser to determine the actual value of your
home. The appraisal report obtained from the
evaluation process is very helpful for mortgage
financing.
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• Important Factors Taken into Consideration by an
  Appraiser
• Age and size of the home
• Number of bedrooms, bathrooms, and closets
• Plumbing and appliances
• Condition of fences and decks
• Building code compliance
• The potential for expansion

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6
Home Inspection A home inspection is a visual
inspection performed to determine the condition
of your home. The whole process takes about 3
hours to complete and is generally conducted at
the buyers request.
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• Important Factors Taken into Consideration by a
  Home Inspector
• Pest infestation
• Basement leakage
• Leaks or cracks on floors or roofs
• Condition of walls and ceilings
• Condition of windows and doors
• Insulation
• Ventilation and more.

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