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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

Visit St. Croix: The SeaBreeze in Frederiksted

I have a habit of dreaming up places I want to go, see and places I want to eat. I am sharing where I would stay today. St. Croix has been on my wishlist for ages now! I have talked my mother into moving here.... my husband not so much. 

If I was to visit St. Croix anytime soon, this is where I would stay. This is a personal home named The SeaBreeze located in Frederiksted. 


Why would I stay here? For one, this is the best end of the island for beaches. For two, you are a short drive into town but far enough, the hustle and bustle wouldn't be too loud for your vacation. For three, the owners have multiple items available for use while there including snorkeling gear and beach chairs. 


All photos from here.




Comments

  1. Thank you, I just saw this today. I am glad you enjoyed your stay at the Seabreeze.

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