Buyers often confuse appraisals and inspections. Both involve someone examining your property, but they answer different questions.
The Appraisal Question: "What's it worth?"
Appraisers determine market value. Lenders require appraisals to ensure the property is worth at least as much as the loan amount. The focus is on value, not condition.
The Inspection Question: "What's wrong with it?"
Inspectors identify defects and safety issues. They check electrical systems, plumbing, structural elements, and more. Buyers use this information to negotiate repairs or walk away.
Who Pays?
Typically, buyers pay for both. Appraisals run $300-$500. Inspections range from $400-$600 depending on property size and location.
Can You Skip Either?
Cash buyers can skip appraisals since there's no lender requirement. Inspections are always optional but highly recommended—they protect you from expensive surprises.