Whistler Real Estate Co Ltd, #137- 4370 Lorimer Road, Whistler, BC V0N 1B4

Prime Rate = 6.00%

Appraisals vs. Home Inspections:

What's the Difference?

An appraisal allows the lending institution determine if the land and building in question are suitable as security for a mortgage. For conventional mortgages, a lender will in most cases require that a professional third party appraise the property to ascertain it's current market value.

A home inspection is not used to determine property value, but will provide an assessment of physical condition of a property. While a appraisal is intended to provide the lender with sufficient information to decide on mortgage financing, a home inspection will hopefully reveal to a potential homebuyer that the building and its systems are in sound working order.

KAREN GIBBARD, AMP, BGS
Sr. Mortgage Broker

GIBBARD GROUP
Ph: 604-313-3199
Fax: 604-648-9974

"one call could save you thousands"

karen@gibbardgroup.com