3 months ago
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Posted On: April 24th 2026, 02:35 am
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First time homebuyer tip: understanding the difference between an appraisal and an inspection.
They sound similar but they serve very different purposes.
The appraisal is ordered by your lender. Its job is to confirm the home is worth what they are lending you. It is designed to protect their investment, not yours.
The inspection is something you arrange for yourself. A licensed inspector goes through the home top to bottom, roof, foundation, electrical, plumbing, and documents what they find. That report belongs to you.
And what makes the inspection so valuable for a buyer is that it creates room for negotiation. If issues come up, you can ask the seller for repairs, a credit at closing, or a price adjustment. That conversation does not happen with an appraisal.
So as you are getting ready to write your first offer, know that one of these protects the bank and one of them protects you. Make sure you understand both before you get to the table.
Questions about the process? Drop them below or send me a DM.
🏡 Michael Perkins | Open House PDX
📲 503-800-7878
They sound similar but they serve very different purposes.
The appraisal is ordered by your lender. Its job is to confirm the home is worth what they are lending you. It is designed to protect their investment, not yours.
The inspection is something you arrange for yourself. A licensed inspector goes through the home top to bottom, roof, foundation, electrical, plumbing, and documents what they find. That report belongs to you.
And what makes the inspection so valuable for a buyer is that it creates room for negotiation. If issues come up, you can ask the seller for repairs, a credit at closing, or a price adjustment. That conversation does not happen with an appraisal.
So as you are getting ready to write your first offer, know that one of these protects the bank and one of them protects you. Make sure you understand both before you get to the table.
Questions about the process? Drop them below or send me a DM.
🏡 Michael Perkins | Open House PDX
📲 503-800-7878
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