Escrow Inspections and
Appraisals
The Importance of Home Inspections
Home inspections are a critical step in the buying process. They reveal any hidden issues with the property, such as structural problems, plumbing issues, or mold. Armed with this information, you can negotiate repairs with the seller or decide whether to proceed with the purchase.
Understanding Appraisals
Appraisals determine the fair market value of the home. Lenders require appraisals to ensure they are not lending more money than the property is worth. If the appraisal comes in below the agreed-upon price, you may need to renegotiate the deal or secure additional financing.