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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

4 Paint Colors Buyers Turn Their Nose To

I will tell you,when you call me in for a listing interview, I will tell you a fresh coat of paint will sell your home must faster than scuffed up, flat painted walls. According to HomeAdvisor, typically painting all the walls in your home will run you around $1700. Be careful in the selection though or your may regret your decision later. 

So what colors should you avoid?



1. Orange: I went to UT Knoxville and met my husband. We started our family wearing Orange but it really isn't the most attractive to color to paint any room and especially not the outside of the house. NEVER. For the sake of your Realtor's sanity and your neighbors. 

2. Neon Green: I recently walked into what was once a kids room in a empty house listed in a great neighborhood and had to put on my sunglasses. Hey, I get it. Your kid's favorite color but your new buyers? Not so much.


3. Fairy Tale Pink: Again, I get it. Your daughter is obsessed and you want to make her happy but those people looking to buy a house, they hate it.


4. Browns and Yellows: This once was a smart move in real estate. Everyone was into yellow walls and dark floors. Not so much anymore. Today it is more about grays, blacks and white. Paint the wall, leave the floors. Also, it photographs terribly.

What are your thoughts?

Leigh Ann Fisher-
Liz Moore and Associates
757-784-3230

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