Skip to main content

Featured

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

Labor Day





















Have you ever started a business? Well, that is where my head has been. I am updating quickly photos from Labor Day weekend. Sorry they are late but blogging and real life sometimes don't go hand in hand. I'm not a professional blogger and at this point- very glad I am not.

Comments

  1. Looks like it was a great Labour Day weekend for you! Who doesn't love to enjoy it with friends in such a fun way. Yes I have started my own business and it does take a lot of hard work but it is worth it.

    Rebecca
    http://www.winnipegstyle.ca/Blog/default.cfm

    ReplyDelete

Post a Comment

Comments Make the World Go Round