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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

Decorate Friday: Salty Style

Many people have wondered what Salty Heirs means, it means living by the sea and heir to the abundance of    coastal living. I spent my childhood living in the Mississippi delta where mosquitoes would carry you off if you didn't wear enough Deet. Cotton fields, sweet tea and Mam Mam and Pap Paw... Today I live along the Virginia Coast and love it. Mosquitoes may still try and carry us off without enough Deet but the sounds of the water and salty heir make up for that!

Joss and Main
West Elm

Joss and Main
Pier One

Zazzle

Crate and Barrel




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