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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: 3609 Grey Abbey in Mill Creek Landing

















You will love this private & serene waterfront home that has been masterfully updated with gorgeous, quality finishes.

Located on a quiet cul-de-sac and just minutes from everything Williamsburg, this beautiful home offers 3157 sq ft, 4 or 5 BR & 2 ½ baths. The airy great room with water views opens to a renovated chef’s kitchen with new granite, marble backsplash, double ovens, smooth downdraft cooktop, touchless faucet, & pantry. Just adjacent is a spacious dining room & a LR/home office. 2nd floor offers a large MBR with hardwood floors & walk in closet. 

Master bath has also been updated & features a Calacatta marble countertop & tiled, glass shower. There are 3 add’l large BRs plus a 3rd floor bonus with built-ins that could also be BR 5. Hardwood floors throughout the home except for 2 BRs that offer new carpet.
Features: walk-in attic, new paint throughout inside and outside of the home, newer fixtures throughout most of the home.

Outdoor living is the best with herons and other wildlife on view from the expansive deck plus kayaking and fishing from your own backyard.


Indigo Park is a short walk away and offers pool membership and swim team.


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