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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

Family Photo Shoot

We haven't had a family photo shot in a long time. It can be so difficult when you have kids (especially the older they get and the more activities that occur) to all get together dress appropriately and snap a shot. Normally one kid is in an awful T-shirt, another in a swimsuit and another sweaty from a sport. The other day we were all dressed up with somewhere to go. I am pretty happy with them. How often do you get together for photos?

My Mom was with us too so she got in on the fun. Unfortunately we were unable to get one with all of us in it together. No tripod and no one else was there. :(


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