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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

House Crush Alert: Wooded Kingspoint Home



Driving up to this house to preview it the other day, I felt like I was completely out of the city and in my own little world. The trees still with a couple of leaves hanging down from their branches welcomed me as I pulled up to the drive of this mid century modern home located in one of my favorite neighborhoods in Williamsburg; Kingspoint.

With a diverse architectural mode, Kingspoint is a neighborhood where you will not find cookie cutter homes but homes where each home owner lovingly chose the plan of their home. This home is a real treat!


This home is a breathtaking tree home with views of College Creek. All the rooms are spacious with loads of natural light. The screen porch is perfect to enjoy a cup of coffee or your glass of wine as you overlook the water. 




Call me today to see it! 757-784-3230

Comments

  1. I love that each of the homes in the area are different! That one is gorgeous!

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