Hanna Home Services Featured in Redfin’s Guide to Reading an Appraisal Report

When you buy a home, two reports land in your inbox: the home inspection report and the appraisal report. They sound similar, but they do very different jobs. That is why we were glad when Redfin asked us to share our perspective for their new article, “How to Read an Appraisal Report: A Breakdown on What’s Included.”

Two reports, two different questions

A simple way to think about it: the appraisal is about price, and the inspection is about condition. The appraisal tells your lender what the home is worth. The inspection tells you what shape the home is in, so you know what you’re getting before you close. You will want both.

What we told Redfin

Redfin asked us what buyers should do when an inspection turns up a big problem. Here is what Les Hanna shared:

“When an inspection finds a major issue, it often changes the conversation about the purchase, whether that means repairs, a price adjustment, or a closer look at the home. Whether it also affects the appraisal or the loan depends on the issue and on the lender, so buyers shouldn’t assume either way. My advice is to go through the full inspection report with your agent, so you know exactly what you’re dealing with before closing.”

Why this matters to you

A big finding on an inspection can feel stressful, but it isn’t the end of the road. It gives you information. Your agent can help you decide whether to ask for repairs, ask for a credit, or move ahead as planned. The key is to read the whole report, not just the summary, so nothing catches you off guard at the closing table.

Read the full article

We were named an expert on Redfin, powered by Rocket. Read the full article here: How to Read an Appraisal Report: A Breakdown on What’s Included

Buying a home in Northeast Florida?

If you have a home under contract and want a clear, plain-English look at its condition, we’re here to help. Schedule your inspection with Hanna Home Services.