A home appraisal is the process of evaluating a piece real estate (can be a residential, commercial or industrial building built on land) and all it’s features to come up with a value of that property. An appraisal is normally performed by a professional appraiser who is trained to provide their opinion as to the value of the real estate and its building.
A home inspection is the process whereby a home inspector examines a home and all its major components to determine the quality of the components and also provides estimates of the longevity and usefulness of the components.