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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

Homecoming Weekend One

Douglas was off and on the town this past Saturday. So wild when your kids start growing up, riding in cars with boys and getting caught sneaking a drink. They will, don't think they won't. Luckily this was not the occasion of drinks being consumed and a grounding had to be awarded. When kids are grounded, it is such a pain for the adults. The kids whine, are around all the time and want to fed more than ever. 

So Douglas went out in this dress (mine) and her gold heels. I think she looked pretty great. 








Comments

  1. These photos are lovely! She looks gorgeous!!

    xo
    Rachel

    ReplyDelete
  2. She looks beautiful! I love the shoes with that dress!

    ReplyDelete
  3. Cute dress, great gold accessories. She looked lovely, I hope she had a great time.

    ReplyDelete

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