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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

Pin It Monday: A Day Late

Monday was super busy for me at work and at home. We are heading for vacation to Perdido Key, Florida on Friday morning and with that brings lots of got-to-do's. Here's what I'm loving this week! Don't forget to tell what you are liking. Link me!

DKNY Swim, perfect fabric and fit.

Candy buffet - Glue glass jar onto a candlestick from the dollar store!!


                                                        One of Ava's Birthday Presents!
Great Gift Wrapping Idea!

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