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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: 114 N Berwick in Ford's Colony


Nestled down a private drive and golf views from every direction, this house has all the charm you could want in a home. A partial wrap around porch with one of most beautiful green doors, I've seen in awhile, this house welcomes you in. 


Formal living and dining rooms situated on the front part of the house with the casual areas in the back. 


Featuring a large first floor master with a sitting area off the side door are perfect for sipping your coffee in the morning or a glass of wine in the evening. Enjoy the screened in porch off the casual kitchen with a sitting room with fireplace. This house has all of the outdoor living spaces you could ask for in a home. Upstairs offers four bedrooms and two bathrooms upstairs-- the owners have such great taste. 





If you would like a private showing, please give me a call! 757-784-3230 or shoot me an email at leighannfisher@lizmoore.com


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