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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

Kerr Lake, Virginia and North Carolina







This weekend we went back to our favorite lake and had a blast. Douglas and Ava finally got up on skis. Ava for the first time and Douglas for the first time in forever. Sage was this close to slaloming and I came out of knee boarding retirement. The last time I was on a kneeboard I got whiplash and was on the couch for two weeks watching Hurricane Katrina barrel through. 

We took the boat for the first time to Steel Creek Marina. You can fill up with gas right on the water which is nice so you don't have to pull the boat out. We found Gilligan's Island, enjoyed swimming in Jaws Cove (we call it Mermaid's Cove). 




Watch me do a 360

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