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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

Quirks of Art: Little Free Library


Have you seen the new addition to our store? The first of its kind established by a business in Williamsburg, Virginia, we are proud to unveil our Quirky Little Free Library! Take a book and/or leave a book and post a selfie with hashtag #quirksofart. Who says nothing in life is free?!? All we ask for is a smile P.S. No trees were harmed in the making of this Little Free Library...it is completely constructed of reclaimed and recycled materials.


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