The role of appraisers and inspectors are often misunderstood or considered interchangeable. Some sellers and buyers might question whether they need an appraiser versus an inspector. In reality, it rarely comes down to choosing one professional over the other. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that depending on the details of your transaction, your house might be evaluated by neither, one, or both. Appraisers asess the home’s value, so the lender can be confident that the property is worth the price being paid. That way, if the buyers default on the loan, the lender is left with a sellable asset. Inspectors examine the quality and condition of the homes and make the buyer aware of defects — both for the purposes of final contract negotiation and to protect the buyer from the onset of unexpected expenses after the sale. Check out below to see what sold in Steeplechase in July 2022:
50532 Laurel Ridge Court, Northville: 5 bedrooms, 4.1 bathrooms, 3,896 sq. feet, 3 car garage, Sold Price: $1,000,000
Steeplechase Home Sold
July 2022
However, the appraisal might note the home’s increased value because of a newly renovated kitchen with quartz countertops, or its proximity to the beach. Those details won’t appear in an inspection report, but a faulty light switch in the shower is destined to make the list. For more information on Steeplechase, or similar Northville or Novi neighborhoods such as Woodlands of Northville, Beckenham and Ravines of Northville, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.