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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: 117 Chestnut








I am in love with this one! As an agent who sees new listings come on the market daily, I've seen a lot of houses in my day and not all catch my fancy but when they do--- I get so excited! This one gets me excited!


For 300K you get all of this! Wow! It's on water too--- in Williamsburg? I am ready to write a contract. 


Spacious 4 bedroom (Possible 5), 3 bath home in an 

idilic waterfront location just minutes from the historic area. 
Lovely living space include vaulted living room and sweeping 
family room with sound insulation - both with fireplaces. 
Kitchen with tiled floors , corian counters and breakfast bar 
leads to an amazing home office with panoramic views. Back 
deck and brick patio with perfect built-in fire pit are perfect 
for enjoying the gorgeous setting.

Want to see more? 

Call me! 757-784-3230

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