After your offer is accepted, your attention quickly shifts from house hunting to inspections, mortgage paperwork, underwriting requests, and closing deadlines. One step buyers often overlook until the lender orders it is the home appraisal.

Often, buyers confuse the home appraisal with the home inspection, and while that’s understandable, it’s important to know that the two serve different purposes. An inspection evaluates the home’s condition, while an appraisal determines its market value.