Barb Schlinker The Real Estate Voice

Segment 3Why are Inspections and Appraisals Needed and Who Does ThemInspections and Appraisals - Why are they needed and who does them?1.  They are two different things:Inspection – typically done by the buyer’s inspector to make sure the home is in workable condition.Kicker:  Inspectors do NOT have to be Licensed in ColoradoI’ve had buyers do their own inspectionHome Inspection Issue – Inspector tore apart pedestal sink story2.  Appraisal is done by someone who holds a license with the state to verify the home meets the loan guidelines and it’s an outside 3rd party opinion of the home’s value.●Used by lenders to substantiate to the investor, person providing the money for the loan and●That the home meets the loan guidelines and is worth the agreed upon price.This is another example why Agent Selection matters.Not every agent understands that the Lender Requirements are for the Buyer and are NOT a seller obligation. Yet some agents think its ok to charge the seller for stuff like this.You are listening to the