You find a home you love in Farmington, and two big terms pop up fast: appraisal and inspection. They sound similar, but they serve different goals and follow different rules. Knowing the difference can protect your timeline, your money, and your peace of mind. In this guide, you will learn who orders each, when they happen in a typical Hartford-area contract, what each report includes, and how results affect negotiations. Let’s dive in.
Appraisal vs. inspection at a glance
Appraisal = a lender-ordered opinion of market value. Inspection = a buyer-ordered condition check for safety, repair, and maintenance.
An appraisal supports the lender’s underwriting and focuses on value and marketability. A home inspection focuses on the home’s visible condition and helps you decide on repairs, credits, or whether to proceed.
Who orders and pays in Farmington
Appraisal: lender-driven
Your lender or mortgage broker orders the appraisal after your loan application is underway. The appraiser is typically assigned through the lender, sometimes via an appraisal management company. The lender is the appraiser’s client, and the report is prepared under USPAP standards to support an opinion of value. You usually pay the appraisal fee as part of loan costs, but you do not hire the appraiser directly.
Inspection: buyer-driven
You choose and hire the home inspector, usually right after your offer is accepted. The inspection happens during your inspection contingency window and is a visual, non-invasive review of accessible systems and components. The inspector works for you under a written agreement. Some sellers choose a pre-listing inspection to surface issues early, but buyers should still perform their own due diligence.
Connecticut licensing checks
Before you engage anyone, verify active Connecticut licensing or registration and professional standards. Appraisers follow USPAP. Many inspectors follow ASHI or InterNACHI Standards of Practice. You can confirm current credential requirements with the Connecticut Department of Consumer Protection.
Where each fits in your timeline
Inspection timing
Most Hartford-area contracts give you about 5 to 10 business days to complete inspections and negotiate. In practice, you should schedule the inspection within 1 to 7 days after contract ratification. A typical on-site inspection for a single-family home takes 2 to 4 hours, and you often receive the written report within 24 to 72 hours. Use that time to decide on repair requests, credits, or next steps.
Appraisal timing
Your lender orders the appraisal after your loan file is in process. In the Farmington and broader Hartford metro area, most appraisals are scheduled within 3 to 14 days of the order. Turnaround times vary by season and property complexity, but a 3 to 14 business day window is common for the full process. Your lender will update you on expected timing and any delays.
Farmington scheduling tips
Seasonal peaks in spring and summer can slow both inspector and appraiser availability. In competitive markets, some buyers shorten or waive contingencies to strengthen offers, which reduces protections. If you consider changing contingency terms, understand the risks and confirm how it affects your rights and financing.
What each report includes
Appraisal report contents
An appraisal describes the property and neighborhood, analyzes recent comparable sales, and provides a final opinion of market value on standardized lending forms. It may include photos, a sketch with floor area, site details, and comments on condition when relevant to value. It is not a component-by-component condition report.
Home inspection report contents
An inspection report reviews accessible systems and components such as the roof, structure, foundation, plumbing, electrical, HVAC, interiors, and safety items. You receive photos, notes on severity or risk, and recommendations for repair or further evaluation by specialists. Inspections are visual and non-invasive, and they are not a warranty or guarantee of future performance.
Limits and overlap
An appraiser may note obvious defects that affect value, but will not list every safety or maintenance item. An inspector will not estimate market value or analyze comparable sales. Neither replaces specialized testing for radon, sewer lines, wells, septic systems, mold, or environmental issues unless separately arranged.
How results affect negotiations
Inspection findings and your options
Under an inspection contingency, you can request repairs, ask for a credit or price reduction, or negotiate access and time for re-inspections. If major issues surface and your contract allows, you can cancel within the contingency window. For structural or safety concerns, your inspector may recommend further evaluation, which can affect timelines.
Low appraisal outcomes
If the appraisal comes in below the contract price, the lender bases your maximum loan on the appraised value. You may need to bring additional cash, renegotiate the price, request a seller concession, or seek a reconsideration of value through your lender’s process. If your contract includes an appraisal or financing contingency, you may be able to cancel without penalty if the gap cannot be resolved.
When both reports raise issues
If the inspection finds significant defects and the appraisal is also low, you may face both repair negotiations and a financing shortfall. In some cases, lenders will not close until certain repairs are completed. If both parties cannot reach agreement, termination may be the best path under your contingencies.
Protecting your rights with contingencies
Key contingencies to understand
- Inspection contingency: sets your window to inspect, negotiate, or cancel. Missing the deadline can forfeit rights.
- Financing and appraisal contingencies: protect you if you cannot obtain the loan or if the appraisal is too low. Many forms tie appraisal to financing, so confirm your exact language.
- Specific disclosures: depending on property disclosures, you may have separate investigation rights, such as for wells, septic systems, or environmental conditions.
Buyer steps to stay protected
- Schedule inspections immediately after ratification and track your deadline.
- Attend the inspection if possible to learn about urgency and scope.
- Read the inspection agreement to understand limits, and order specialty inspections when warranted.
- Ask your lender how appraisal outcomes affect your loan and whether you have an appraisal contingency.
- Weigh the risks carefully before shortening or waiving contingencies.
Seller steps to stay ahead
- Consider a pre-listing inspection to identify and address issues early or disclose them clearly.
- Price with data. A pre-listing appraisal or broker opinion can help, but lenders will still order their own appraisal for financed buyers.
- Prepare to respond quickly to repair requests or credit negotiations to keep timelines on track.
Choosing and verifying professionals
Appraisers in Connecticut
For mortgage transactions, appraisers must be state licensed or certified and follow USPAP. Ask your lender about local experience in Farmington and Hartford County and the typical turnaround for your loan program. Expect a valuation focus with a comparable sales analysis on standardized forms.
Home inspectors in Connecticut
Verify active Connecticut licensing or registration, professional affiliations, and proof of insurance. Review sample reports to see clarity, photos, and turnaround time. Ask about exclusions, whether they provide repair cost ranges, and how they handle referrals to specialists. Plan to attend the inspection and keep the report for negotiation and future maintenance.
Buyer and seller checklists
Buyer checklist after ratification
- Confirm your inspection deadline and schedule within 24 to 72 hours.
- Decide on specialty inspections such as radon, sewer scope, well or septic, and pest.
- Review the report, prioritize safety and major systems, and submit repair or credit requests on time.
- Confirm when the appraisal will be ordered and your lender’s estimated timeline.
- Discuss appraisal contingency protections with your lender and agent before you waive any rights.
Seller checklist when listing or under contract
- Consider a pre-listing inspection and tackle high-impact repairs before going live.
- Provide complete disclosures and be ready to respond to inspection requests.
- Remember that a lender-ordered appraisal will still happen for financed buyers.
The bottom line for Farmington buyers and sellers
Appraisals and inspections serve different clients and purposes, and they influence your transaction in different ways. In Farmington and the Hartford region, inspections typically happen right after contract ratification, while appraisals are ordered by the lender during underwriting. Keep a close eye on contingency dates, confirm each professional’s credentials, and plan your negotiation strategy around the results you receive.
If you want a disciplined, timeline-driven approach that keeps every step clear and on schedule, connect with Meghan Girard. You will get proactive coordination of inspections, lender milestones, and negotiations so you can move forward with confidence.
FAQs
What is the main difference between an appraisal and an inspection?
- An appraisal is a lender-ordered opinion of market value, while a home inspection is a buyer-ordered condition review of systems and safety items.
Who orders the appraisal and when in Farmington, CT?
- Your lender orders the appraisal during loan processing, typically within days of a ratified contract and after receiving initial documentation.
How long do inspections and reports take in Hartford County?
- Most inspections are scheduled within 1 to 7 days, take 2 to 4 hours on site, and deliver a report within 24 to 72 hours.
What happens if the appraisal is lower than my offer price?
- The lender bases the loan on the appraised value, so you may renegotiate price, seek a seller credit, add cash, request a value reconsideration, or cancel under a contingency.
Can I skip the inspection to make my offer stronger?
- You can, but waiving the inspection reduces protection and can expose you to costly surprises after closing.
Do appraisers check for repairs like inspectors do?
- Appraisers may note obvious condition issues affecting value, but they do not perform a system-by-system defect review like a home inspector.
