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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

Weekends on Wednesday

We spent last weekend being "only" parents to Sage as Douglas stayed behind in Williamsburg for a volleyball tournament and Ava went along with her best-friends for a birthday weekend in D.C.





We attended Joe's cousin's wedding at the OBX. The ceremony was beautiful and the reception simple and fun. We were able to spend some time with Joe's dad, John and stepmom, Martha and his sister, Lindsey.




After the wedding we stayed with friends from Richmond down visiting for the week. Although we didn't need the eight bedroom home for the nine of us, it was nice having that much space to spread out. The pool was heated, the hot tub hot and the beach perfect for shredding some nar. 









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