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Why is an Appraisal Important When Buying or Selling a Home?

One the biggest components in buying a home when a lender is involved includes an appraisal. If you buy a home with cash and sometimes with a conventional loan, you can bypass this step. With an FHA loan and an VA loan, you cannot.  What is an appraisal?  In simple terms and Appraisal is a valuation of property.  An appraisal ordered for the purchase of a home is to determine if the price agreed upon by seller and buyer is acceptable by the lending institution. If an appraisal comes in low, the lender will likely decline to fund the deal. Unless the buyer is willing to come to the contracted price the deal to purchase can fall apart.  So what happens if the Appraisal come in Low? Sometimes a buyer will pay over the appraised value in order to buy the home. Sometimes the seller will lower the contracted price to the appraised value in order for the deal to continue. Sometimes the deal falls apart.  Loan types will determine what you can do as a buyer to get past the low appraisal. A con

Rainy Day in Williamsburg?


Cupcake Wars:
You’ve heard of the popular show on Food Network right? The girls and I love to get together and challenge each other on our cupcake making skills. We each choose a recipe from either a cookbook or an online publication, gather the ingredients and bake away. Of course presentation also counts too! Below is the latest winner!
Take a Dip:
 
Are you a member of James City County Rec Center? If so, why not take a dip in the pool and finish off in the hot tub? The kids can splash in the pool while you enjoy some R & R. If you are not a member, why not look into joining? With many activities going on, you can be busy as much or as little as you want.
Paint on Pottery: 
Located right next door to Quirks of Art in High Street, let Robin help you pick the perfect piece to add to your home. Spend time catching up with your kids and get creative too. Afterwards, why not drop by and say hi to us!
Visit Basset Hall:
Visit the home of John D. Rockefeller, Jr. and his wife Abby Aldrich Rockefeller during the restoration of Colonial Williamsburg. Show the kids some history and learn something for yourself. If you have a Good Neighbor pass, you pay once a year and can visit as many times as you would like. I would highly recommend getting one. It pays for itself.
Take the Ferry to Surry:
Why not? You are stuck inside anyways, why not pop on the ferry and check out the water for awhile. Have some tunes to listen to! Grab a bite to eat in at The Surry House Restaurant and then head home.
Happy Days!

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