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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

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My mom took Sage and Ava to Perdido Key a couple of weeks ago and while they were away, we did a little beach visiting too. Instead of driving 14 hours to the Gulf of Mexico, we drove 2 1/2 hours to my parent in laws. The beach was amazing. Clear and warm and luckily shark free from what we could tell. Joe and Douglas love to play frisbee and I like to take photos and watch. 

I'm lucky to get my photo taken and this year it has been all about the visor, the croakies and this hair clip. I'm super stylish I know. Not. 

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