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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 Water Island: Hidden Villa


Visit: Water Island
Stay: Hidden Villa

Come stay on the smallest island in the USVI: Water Island. With only 200 residents, come enjoy peace and tranquilty on this island transferd to the USA in 2009. A vacation on Water Island consists of relaxing on the beach, fishing and boating, hiking the island, or join residents for a movie night. With only a couple of options to eat out, plan on visiting Joe's Beach Bar or Heidi's Honeymoon Hideaway.

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