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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 Colington Harbour: Stay Soundfront


Colington Harbour is a favorite spot for us to stay when we visit the Outer Banks of North Carolina. It is a community mostly inhabitated by locals but mostly always vacationers. With a private beach perfect for days when the ocean is too cold to swim in or the wind is coming in from the east, you can dip in a the water is normally amazing. With a public playground with vintage rockers, tall swings and private pool, this place has it all. If you have a boat, a boat ramp is available at the community center. Kayaks are fun to use in the canal or in the sound too.

The house I have chosen to show you today is located on the soundside where the sunsets will be amazing. Enjoy a cup of coffee on the deck in the morning and a drink under the house in the afternoon. The afternoon sun can be brutal but do as the locals do and hide out under the house. Try crabbing with a chicken neck you can purchase at the grocery story for little to nothing and buy a crabbing kit. Fling your chicken in the water, tied to part of the dock, and watch the crabs come for dinner. 

I'm going to let you in on a big secret too about the Outer Banks, after September through October, the water is still VERY WARM. Shhhhh.... 




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