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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

Ski: The Homestead
















I was not raised on a ski slope. My hubby more so than I. Never getting to experience the sport as a child, I knew when we moved to Virginia the opportunity would show. We've hit the slopes a couple of times mostly at Wintergreen and Gatlinburg but couple of weeks ago, Joe's buddy invited us up to take a trial run before our ski trip to Wintergreen in two weeks. 

We stayed at his family's vacation home which was beyond beautiful. The front yard has remains of an old hunting cabin. We ate dinner at Cucci's one night and I cooked the other. We hit the slopes at the Omni Homestead Saturday and I still stop by hitting the ground or skiing right onto the lift. Here's to helmet wearing up in West Virginia and taking another class.


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