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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

Open House Alert--- 807 Schooner Boulevard












Beautiful Creekside Landing Living! With 5 Bedrooms and 2 1/2 Baths and over 4,000 Square Feet you will love how large this home lives. Gorgeous wood cabinets with stainless steel appliances in the kitchen flow effortlessly into the open living spaces! Enjoy coffee in the sunroom overlooking the newly replaced deck and generous backyard oasis. Enjoy cul-de-sac living and all the amenities living in Creekside Landing offer!

Want to see more? Stop by Saturday from 12-2 pm and enjoy some light refreshments and tour this home! 

Questions? 

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Leigh Ann

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