What’s the Difference Between Home Appraisal and Home Evaluation?

When it comes to understanding your home’s value in Orlando, two terms often come up: home appraisal and home evaluation. While they sound similar, they serve very different purposes—and knowing the difference can help you make smarter decisions whether you’re selling, refinancing, or just curious about your property’s worth.

Home Appraisal: The Official Value for Lenders

A home appraisal is a formal process conducted by a licensed appraiser. It’s typically required by lenders during a sale or refinance. The appraiser visits your property, compares it to recent local sales, and considers factors like condition, size, and upgrades. The result? An official, unbiased value that helps the bank decide how much to lend. Appraisals are all about protecting the lender’s interest and ensuring the home isn’t over- or under-valued for the transaction.

Home Evaluation: An Expert’s Market Insight

A home evaluation (sometimes called a Comparative Market Analysis or CMA) is usually offered by experienced real estate agents—like us! It’s a personalized estimate of your home’s current market value, based on recent sales, local trends, and unique features of your property. Unlike an appraisal, it’s not legally binding, but it’s incredibly valuable for sellers who want to price their home right and attract buyers fast.

• Appraisal = Official, for lenders, fee-based
• Evaluation = Expert opinion, for homeowners, usually free

Why Both Matter

If you’re selling, a professional evaluation helps you set the right price from the start. Once you’re under contract, the buyer’s lender will order an appraisal to confirm the value. Understanding both steps ensures a smooth, successful sale—and no surprises along the way.

Curious about your home’s value?
We offer complimentary home evaluations for Orlando homeowners. Find out what your home is worth today!