value of a certain property. When it comes to closing a financial transaction involving a property, both the seller and the buyer depend on his or her evaluation. This procedure is meant to protect the buyer — as well as the bank that offers the mortgage loan — from purchasing an overestimated and overpriced piece of real estate. Property appraisers aren’t the same as property inspectors. The difference between an appraiser and an inspector is that the former will look only for obvious issues, while the latter checks, in a more detailed manner, items such as the plumbing or the air conditioning system. The appraisal report is required by the bank, and the cost is included in the
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