when a homeowner s mortgage goes into delinquency the lender may require the loan servicer to have a home inspection performed on a monthly basis typically charging the homeowner a fee of 10 to 50 each time a march 2023 report from the consumer financial protection bureau cfpb however noted that some servicers were charging such fees even if the home inspector went to an address that it knew to be incorrect that the cfpb said represented an unlawful junk fee 1
home inspection vs appraisala home inspection focuses on the home s condition and should not be confused with a home appraisal which is intended to determine the property s current market value both are essential steps in a typical home sale but are done for different reasons the buyer sets up a home inspection and can then attend it to become educated about the condition and safety of the home and its systems in contrast an appraisal performed by a certified or licensed appraiser is required and scheduled by a lender when a buyer applies for a mortgage to purchase a home an appraisal can affect the amount that can be borrowed and is typically done behind closed doors without the buyer s presence the appraiser uses several valuation methods including comparable home prices the size and quality of the home lot size and more 