Having survived this long, it's now time to move on safer subjects such as how to buy a house and not lose you shirt. Even though real estate has changed substantially in recent years with the use of new technologies, the fact remains that buying a home still requires a series of traditional protections and defenses. Because buying a home is inherently complex and professional assistance is both appropriate and reasonable. In practical terms, this means that if you're a buyer there are a number steps you should take to protect your interests. Despite HUD, appraisers are not trained home inspectors.
Appraisers offer independent home valuations.
Appraisers do not open electrical service parts, climb on roofs, or look into furnaces. If you're buying a single-family home, spend the money and make your purchase offer conditional on a home inspection by a professional inspector satisfactory to you. Get an appraisal . An appraisal satisfactory to the lender is required when a home is financed by a traditional mortgage source. Consumers pay for this appraisal, but lenders get to choose the appraiser.