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
I've heard of this in passing BUT OMG!!!! THIS IS AMAZING!! My cousin growing up had the most detailed dollhouse I have EVER seen. She was 16 years older than I was and I was NEVER allowed to touch it or play with it. Which at the time I was like what's the point? But it's crazy to see the detail that people have put into doll houses!! I think it's awesome you guys got to go to this. Looks like everyone enjoyed themselves :)
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Rachel
picklesandchapstick.com
IT is amazing. So fun! That stinks you could never touch or play with it. Yes, what was the point?? That must have been pure torture! :) We did enjoy ourselves. It was a nice today but I am so ready for it to STAY WARM!! I'm heading to California next week on Thursday. So ready to be back in Orange County!!
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