When you
buy or refinance a home, the property is used as collateral for the loan.
To reduce their risk, most lenders require an approved appraiser inspect
the property. The appraiser is responsible for providing a report about
the property to the lender. The report includes their opinion on the overall
condition and the estimated value of the home. However, the appraiser
is generally looking for major issues or concerns regarding the property
and is not a full-fledged home inspector. You should consider hiring a
home inspector to be sure you are fully comfortable with the condition
of the property.
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