Arizona buyer question
What's the difference between an appraisal and a home inspection?
One answers "what is it worth?" and the other answers "what shape is it in?" Here's how each works on an Arizona purchase.
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The short answer
Quick answer: An appraisal is an appraiser's opinion of the home's market value, usually ordered for your lender. A home inspection is a visual check of the home's condition and systems, ordered by you. Arizona licenses appraisers and certifies home inspectors separately. You generally need both: the inspection during your inspection period, the appraisal during loan processing.
Source: A.R.S. §32-3601 and §32-101; Consumer Financial Protection Bureau, Schedule a home inspection. Last updated .
Side by side
| Appraisal | Home inspection | |
|---|---|---|
| Question it answers | What is the home worth on the market? | What condition are the building and its systems in? |
| Arizona definition | An independent, impartial opinion of market value as of a specific date, supported by market information (A.R.S. §32-3601) | A visual analysis of the building and its reasonably accessible systems: heating, cooling, plumbing, electrical, structure, foundation, roof covering and more (A.R.S. §32-101) |
| Who it mainly serves | The lender, though you're entitled to a copy | You, the buyer |
| Who arranges it | The lender orders it when you use a loan | You choose and hire the inspector |
| Arizona credential | Registered, licensed or certified appraiser (state appraiser licensing law, A.R.S. Title 32, Chapter 36) | Home inspector certified by the State Board of Technical Registration, with errors-and-omissions insurance or a bond on file (A.R.S. §32-122.02) |
| Contract deadline on the standard resale contract | Five days after notice of a low appraised value to cancel under the appraisal contingency | Ten-day inspection period by default, then the Buyer's Inspection Notice (BINSR) |
Contract deadlines are from the Arizona REALTORS® Residential Resale Real Estate Purchase Contract (February 2026 sample). Your signed contract controls.
Why you generally need both
The Consumer Financial Protection Bureau says a home inspection is different from an appraisal, and that you generally need both. The appraisal protects the lender's loan by checking value. The inspection protects you by finding problems before you commit. An appraiser may note obvious condition issues that affect value, but an appraisal isn't a substitute for an inspection.
The CFPB's advice on inspections: schedule one as soon as you have a home under contract, choose an independent inspector who is accountable to you, and attend if you can. If major repairs turn up in either report, some loan programs can require repairs before closing.
Create your free account to see all homes for sale that fit the monthly payment you're comfortable with, each with its actual property taxes, HOA dues, estimated homeowners insurance, and mortgage insurance when it applies, plus its own estimated closing costs and APR disclosure.
Opens a third-party home search site. Payments shown there are estimates to help you search, not a loan offer or rate quote. Your actual payment depends on price, down payment, credit, taxes, insurance, HOA, and loan program.
How each one plays out in an Arizona escrow
The inspection period
On the standard Arizona REALTORS® resale contract, the inspection period is ten days after acceptance unless the contract says otherwise. You complete the inspections you want and then deliver one signed BINSR listing what you disapprove. The seller responds, and if the seller won't correct items, you have a set number of days to cancel or move ahead. See the Arizona closing timeline.
The appraisal
The appraisal usually happens during loan processing. Under the same contract, the buyer's obligation to close depends on an appraisal acceptable to the lender for at least the purchase price. Who pays the initial appraisal fee is a box checked in the contract (buyer, seller or other), and the fee is non-refundable. The CFPB says you're entitled to a copy of appraisals your lender gets, no later than three days before closing, and you can't be charged for the copy itself. If the value comes in short, see what happens if the appraisal is low in Arizona.
Arizona inspection extras to consider
Arizona's Buyer Advisory flags a few things a general home inspection may not fully cover:
- Pools and spas. A home inspector may exclude the pool or spa, so a pool company inspection may be needed.
- Roofs. For roofs ten years old or older, the advisory highly recommends a roof inspection by a licensed roofing contractor.
- Sewer or septic. Even if the listing says the home is on city sewer, a plumber, inspector or other professional should verify it. Homes on septic have separate inspection and transfer requirements.
- Square footage. Listing and assessor square footage is often an estimate; an appraiser or architect can measure it.
Where this fits with your monthly budget
Neither report sets your payment, but both can change it: repairs can affect cash to close, and a different value can change the loan. Shopping by payment first keeps those surprises smaller.
A free account shows every home for sale that fits the monthly payment you're comfortable with, each with its real property taxes, HOA dues, estimated homeowners insurance, and mortgage insurance when it applies, plus its own closing cost estimate and APR disclosure.
Related: low appraisal in Arizona · the SPDS · earnest money · prequalification vs. preapproval · more questions.
General information, not legal advice. Your purchase contract, your lender's requirements, and Arizona law control.
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Create your free account to see all homes for sale that fit the monthly payment you're comfortable with, each with its actual property taxes, HOA dues, estimated homeowners insurance, and mortgage insurance when it applies, plus its own estimated closing costs and APR disclosure.
Opens a third-party home search site. Payments shown there are estimates to help you search, not a loan offer or rate quote. Your actual payment depends on price, down payment, credit, taxes, insurance, HOA, and loan program.
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Sources
- Arizona Revised Statutes §32-3601 (real estate appraisal definitions) (retrieved October 15, 2026)
- Arizona Revised Statutes §32-101 (definitions, including home inspection) (retrieved October 15, 2026)
- Arizona Revised Statutes §32-122.02 (certification of home inspectors; insurance) (retrieved October 15, 2026)
- Consumer Financial Protection Bureau, Schedule a home inspection (page last modified Dec. 12, 2024; retrieved October 15, 2026)
- Consumer Financial Protection Bureau, What are appraisals and why do I need to look at them? (last reviewed Sep 4, 2020; retrieved October 15, 2026)
- Arizona REALTORS®, Residential Resale Real Estate Purchase Contract (February 2026 sample) (Pre-Qualification Form, Loan Status Update, loan and appraisal contingencies; clause text checked October 15, 2026)
- Arizona Department of Real Estate and Arizona REALTORS®, Buyer Advisory (updated January 2025)
Frequently asked questions
What's the difference between an appraisal and a home inspection?
An appraisal is an appraiser's opinion of market value, usually for the lender. A home inspection is a visual check of the home's condition and systems for you. Most financed buyers have both.
Does the appraiser inspect the house?
An appraiser looks at the property to support a value opinion, and may note obvious issues that affect value, but an appraisal isn't a home inspection. Hire your own inspector.
Do Arizona home inspectors need a license?
Arizona certifies home inspectors through the State Board of Technical Registration, and certified inspectors must keep errors-and-omissions insurance or a bond on file (A.R.S. §32-122.02).
Can I get a copy of my appraisal?
Yes. The CFPB says you're entitled to copies of appraisals your lender gets on a first-mortgage home loan, no later than three days before closing, at no charge for the copy.
How long is the inspection period in Arizona?
On the standard Arizona REALTORS® resale contract it's ten days after acceptance unless the contract states a different number. Check your signed contract.