Pat Starnes Snippets: Mississippi: Pearl

FAQ ~ Doesn't the Bank Order My Home Inspection?

When talking to home buyers about ordering their home inspection, some express confusion, and think the home inspection and the appraisal is the same report. Some borrowers think the bank will order the "inspection" for them.

An appraisal is NOT the same as the home inspection.

New construction homes for sale

An appraisal determines the value of your property, in other words, what your home is worth. The appraiser will compare the age, number of rooms, amenities, and square footage to other properties that have recently sold to determine fair market value. Comparison properties are called "comparables" or "comps".

A Realtor prepares a Competitive Market Analysis (CMA) in the same way, but appraisers have additional training, licenses and certifications.

The appraisal does not determine if the home systems (air conditioning, water heater, plumbing, etc.) function properly, only that they exist. If you are borrowing funds to purchase a home, the appraisal is a requirement by the lender.

If the house does not appraise, a clause in the purchase contract protects the borrower from paying MORE than appraised price for the house.  The purchaser can OPT to pay more for the property than appraised price, but the funds cannot be borrowed. The buyer and seller may renegotiate the sales price if they desire, or the borrower can simply cancel the sales contract.

A home inspection, although optional, is highly recommended. The licensed inspector looks for evidence of roof leaks, plumbing leaks, wiring not to code, safety and mechanical issues, etc. that may affect the functionality of the property and cause expense in the near future.

The home inspector will provide a written report to the buyer stating the condition of the home. 

The appraiser provides their evaluation to the LENDER. In Mississippi, the borrower can request a copy of the appraisal from the lender.


If you have any questions regarding Mississippi real estate, or which to sell or purchase a property in the Brandon, Flowood, or Pearl area, I'd be more than happy to assist.

Written and Published by Pat Starnes REALTOR

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Pat specializes in Residential and New Home Sales 

Primary Service Area:

Brandon, Pearl, Ridgeland, Flowood and the Ross Barnett Reservoir area

 Pat Starnes, Broker Associate

Front Gate Real Estate, 6700 Old Canton Rd., Suite C

Ridgeland, MS 39157

601-278-4513 - Cell


Recent Blog Posts by Pat Starnes:


Rankin County Requires Utility Permit and Inspection When House Sells

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Should You Consult a Realtor When Buying New Construction?

Homes for Sale in Scottish Hills ~ Brandon MS 39047

Homes for Sale in Hidden Hills Subdivision, Brandon, MS 39047

Homes for Sale in Castlewoods Subdivision, Brandon, MS 39047

Gardens of Manship Neighborhood Information - Brandon, MS 39047


Are you looking to buy or sell a home in the Brandon MS market? Call me!

Comment balloon 5 commentsPat Starnes, Brandon, MS • June 30 2017 10:44PM
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