So many inspections, what's the difference?
There are many people involved in a real estate transaction. To many, this can cause confusion. As an agent, I deal with them on a regular basis, a person who buys or sells a home once every 5-10 may understandably need a refresher.
Appraiser: This is the person hired by you or your lender to identify how much your house is worth. Most people don’t want to buy a home for $200,000 only to later find out the house was worth $125,000. The appraiser helps to determine the market value. This individual is a licensed role in the state of Tennessee.
Home Inspector: This is the person hired to determine the current condition of the house. They will check things like the roof, air conditioner, plumbing, electrical, appliances, and that general building conditions are acceptable to you. This is a licensed role in the state of Tennessee.
Engineer: While not a common role in a residential real estate transaction, the expertise of a licensed engineer will sometimes be called upon to determine the structural integrity of a building. This usually happens with older homes or houses with existing or suspected structural damage. They can be hired by a buyer and are brought in at the request of an appraiser or home inspector when they feel a condition warrants one. Engineers are a licensed role in the state of Tennessee.
Surveyor: This is the person who determines the boundary lines of the property you are buying. It is more common for people buying rural or large land tracts to use a surveyor than someone purchasing in a subdivision. However, from my experience, it is a good idea to obtain a survey regardless of where you are purchasing. No one wants to buy real estate and find out after the fact the property lines aren’t where they thought. This is a licensed role in the state of Tennessee.
Termite Inspector: This individual is tasked with determining what, if any, current or past termite and wood-destroying organisms are present at a home. This is a very common inspection to be ordered prior to a home closing. This is a licensed role in the state of Tennessee.
Are there other roles that you are curious about? Send us a message and let me know.