To help their customers, lenders might be tempted to choose a less time consuming – and potentially lower cost – real estate valuation method than an appraisal. But while alternative valuation options – such as automated valuation models and broker price opinions – might be cheaper, are they better? [Read more…] about 4 Key Differences Between Appraisals and AVMs, BPOs
Some consumers confuse the role of appraisers with that of home inspectors. But important differences exist between the services offered by those professionals.
Money vs. maintenance
Appraisals are completed to provide a credible, reliable opinion of a property’s value. Inspections are performed to give prospective homebuyers insight into a home’s plumbing, electrical, roof and other features to help determine its condition.