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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

Happy 18th Birthday Sage

18 Years Ago

I was in labor at Baptist East in Memphis, TN doing pretty well. After giving birth to Douglas, I was pretty prepared for birth this go around. Of course none of my children ever came naturally so I was always induced. I was on my pitocin drip, most of my family was in Gulf Shores for the holiday weekend--- Memorial Weekend. I was surrounded by a small group of family and friends and little bit Sage came into the world at 4:20 p.m. She came into the world very easy and she has been that way every since.

If the way your child comes into the world sets the tone for the way the child's personality will be, then she has proved that to be true. She is graduation next week and then we get ready for her to attend Mississippi State in the Fall. So far away, but so proud of her.

Happy Birthday Sage!








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