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    isal is an estimate of value by an independent third party. This reduces the lender's risk by assuring that the propert
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    When you are buying a home it seems like there are so many reports and inspections needed. You are advised to get the home appraised, inspected, checked for termites, surveyed and so on. Why are there so many different reports?

    Each report will tell you something different although some clearly have overlaps. But they all offer something that other report won't cover.

    Lenders make loans on the sales price or the appraised value -- whichever is less. The appraisal is an estimate of value by an independent third party. This reduces the lender's risk by assuring that the property

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    home appraised, inspected, checked for termites, surveyed and so on. Why are there so many different reports?

    Each report will tell you something different although some clearly have overlaps. But they all offer something that other report won't cover.

    Lenders make loans on the sales price or the appraised value -- whichever is less. The appraisal is an estimate of value by an independent third party. This reduces the lender's risk by assuring that the propert

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    h report will tell you something different although some clearly have overlaps. But they all offer something that other report won't cover.

    Lenders make loans on the sales price or the appraised value -- whichever is less. The appraisal is an estimate of value by an independent third party. This reduces the lender's risk by assuring that the propert

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    report won't cover.

    Lenders make loans on the sales price or the appraised value -- whichever is less. The appraisal is an estimate of value by an independent third party. This reduces the lender's risk by assuring that the propert

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    isal is an estimate of value by an independent third party. This reduces the lender's risk by assuring that the property is worth what you are paying for it. As a general rule you do not often see a “sale” appraisal with a value higher than the agreed upon sales price but it is not uncommon to see appraised value less than the sales price. This is your warning signal that you are overpaying. There is also significant information in appraisals that confirm you are buying what has been advertised by the seller.

    The home inspection is very important. It is not an appraisal. The apprais

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