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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

16 Random Facts About Me

I haven't done one of these on here before so I thought it would be fun!

1. I went to The University of Tennessee at 17.
2. I had my daughter Audrey Douglas at 18.
3. Douglas' first name is after Audrey Hepburn because I love Breakfast at Tiffany's.
4. When I used to smoke, I had a cigarette holder just like was used in Breakfast at Tiffany's.
5. I am an ex Kitchen Designer and have never regretted getting out of construction.
6. My favorite color is green. In elementary school I changed my last name to Green.
7. I was a chubby teen and it has haunted me to this day.
8. I have slight obsession with Pinterest.
9. My first job was a singing hostess at Macaroni Grill. I sang "Tante Aguri" in opera for too long.
10.  I was married at 21 and I'm cool with that.
11. I am very fortunate my hubby and I get to travel as much as we do. Barbados in October??
12. I am an only child.
13. Whenever I smell raspberry fragrances it takes me back to my dorm room in Knoxville.
14. My daughter Ava just made advanced swim team. She wants to be in the Olympics.
15. We had the hardest time trying to find a name for our middle child. We were at a festival and someone was burning sage and we looked at each other and said, "Sage."
16. My last car caught on fire in my driveway. It burned to the ground.

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