![]() ![]() And it partly depends on whether or not the buyer is using a mortgage loan to finance the purchase. In New Jersey, as in most states, there are different requirements for home inspections and appraisals. ![]() The appraiser is primarily concerned with the market value of the home. The inspector is primarily concerned with the condition of the property (including the roof, foundation, installed systems, etc.). With both of these procedures, a trained and certified professional will review the home inside and out. So there are some similarities between home inspections and appraisals in New Jersey. Here, the primary objective is to determine the value of the property. The appraiser will prepare a comprehensive report that includes sales data supporting his or her determination of value. A home appraisal is a review of the property to determine its fair market value, based on current real estate market conditions.The American Society of Home Inspectors (ASHI) defines it as “an objective visual examination of the physical structure and systems of a house, from the roof to the foundation.” The primary objective here is to assess the condition of the property. ![]()
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