Victoria George-Realtor

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Danville, VA
Victoria George-Realtor

Licensed in VA & NC!

10/27/2026

🏡 Victoria, What’s This Mean? 🏡

What happens if the house doesn’t appraise for the purchase price? 🤔

You’ve found your dream home, your offer has been accepted, and everything is moving along until the appraisal comes back LOWER than what you agreed to pay. 🥲

Don’t panic.. This doesn’t automatically mean the deal is over!

🏡 First, what is an appraisal?

An appraisal is a professional opinion of a home’s value. When you’re financing a home, your lender typically requires one to make sure the property supports the amount they’re lending.

💰 So, what happens if it comes back low?

Let’s say you agreed to purchase a home for $200,000, but the appraisal comes back at $190,000. That’s a $10,000 difference!

Here are a few ways this could play out:

🤝 1. Renegotiate the purchase price.

You can ask the seller to lower the price to match the appraised value. They aren’t required to agree, but it’s definitely an option!

💵 2. The buyer covers the difference.

If the seller won’t lower the price, the buyer may be able to bring additional cash to closing to help cover the appraisal gap.

🏡 3. Meet somewhere in the middle!

The buyer and seller may agree to split the difference to keep the transaction moving forward.

🚪 4. Walk away from the deal.

Depending on the terms of your contract and any appraisal contingency, you may be able to terminate the contract without losing your earnest money.

✨ The biggest takeaway?

A low appraisal doesn’t necessarily mean you’ve lost your dream home! It just means there may be some additional negotiating to do.

This is one of the many reasons having a REALTOR® in your corner matters! I’m here to help you understand your options, navigate the unexpected, and work toward getting you to the closing table! 🏡🔑

📲 Have a real estate question you’d like me to cover? Send it my way!

10/20/2026

🏡 Victoria, What Does This Mean? 🏡

This week: What does seller-paid closing costs actually cost the seller?

Last week, we talked about the buyer’s side of asking a seller to help cover closing costs… But what does that mean for the seller? 🤔
When a seller agrees to pay a portion of the buyer’s closing costs (also called seller concessions), that money is typically deducted from the seller’s proceeds at closing.

🏡 Here’s an example!

Let’s say a home sells for $250,000, and the seller agrees to contribute $5,000 toward the buyer’s closing costs.
💵 Sale price: $250,000
➖ Seller-paid closing costs: $5,000
🟰 Seller receives $245,000 before any other closing expenses, commissions, or mortgage payoff.

💡 So, does the seller have to bring $5,000 to closing?

Not usually! That amount is typically deducted from the money the seller would receive from the sale.

🚩 But here’s something important to remember!

A $250,000 offer with $5,000 in seller-paid closing costs is NOT the same as a $250,000 offer without them!
Even though the purchase price is the same, the seller’s bottom line is different.

✨ The biggest takeaway?

Seller-paid closing costs aren’t necessarily an extra bill the seller has to pay out of pocket, but they DO affect how much money the seller walks away with!

Whether you’re buying or selling, it’s important to look at the entire offer, not just the purchase price! 🏡🔑

Seller concessions are negotiable and may be subject to loan program limits.

10/13/2026

🏡 Welcome back to “Victoria, What Does This Mean?” 🏡

💰Can the seller pay my closing costs?

YES!! 🤩 This is something we can negotiate when making an offer on a home! When a seller agrees to help pay some (or even all!) of your closing costs, it’s called a ✨seller concession✨

🤔 Why would a seller agree to that?

Sometimes sellers would rather contribute toward closing costs than lower the price of their home. It’s all part of negotiating!

🔑 Can I use seller concessions for my down payment?

Nope! Seller concessions generally can’t be used toward your down payment, but they can help cover eligible closing costs and other expenses associated with buying a home. (Think title & lender fees, appraisal fees, buy down of interest rate, etc.)

✨ The biggest takeaway?

Buying a home comes with quite a few expenses, and seller concessions can help take some of that financial burden off your shoulders!

🌟Keep in mind, seller concessions aren’t guaranteed, and there are limits depending on your loan type.

Don’t be afraid to ask your REALTOR® about negotiating seller concessions! You never know what a seller may be willing to agree to! 🏡💕

10/06/2026

🏡 Welcome back to “Victoria, What Does This Mean?” 🏡

This week: down payment vs. closing costs - what’s the difference?

🏠 What is a down payment?

Your down payment is the portion of the home’s purchase price that you pay upfront instead of borrowing from your lender.

For example:
If you buy a $100,000 home and put 5% down, your down payment would be $5,000.

The amount you need can vary depending on your loan type and financial situation!

📑 What are closing costs?

Closing costs are the expenses associated with getting your loan and completing the purchase.

These can include things like:
🔑 Lender fees
🔑 Appraisal fees
🔑 Title work & title insurance
🔑 Recording fees
🔑 Prepaid taxes and homeowners insurance
🔑 Other settlement-related expenses

So do you need money for BOTH? 👀

Potentially, yes! Your down payment and closing costs are separate, so when you’re budgeting for a home, it’s important to consider more than just your down payment.

Depending on the transaction and loan program, there may also be options to help with some of those costs. This is why talking with a lender early can be so helpful!

✨ The easiest way to remember it:

Down payment = money toward the price of the HOME 🏡
Closing costs = expenses to complete the PURCHASE 📝

09/29/2026

🏡 Welcome back to “Victoria, What Does This Mean?” 🏡

✨What does it mean when a property is being sold as-is?✨

You may see this in a listing and think, “Uh oh, what’s wrong with it? 🥲” But “as-is” doesn’t necessarily mean there’s something major wrong with the home!

Typically, as-is means the seller is selling the property in its current condition (aka no repairs or improvements before closing).

🔨 Can I still get an inspection?
Absolutely!! I usually recommend you do. This will help you know what you’re buying and uncover issues you may not notice during a showing. (Most privately owned properties will allow inspections, but in some cases - like foreclosures - inspections may not be allowed.)

💰 Can I still ask for repairs?
You can ask, but when a property is as-is, the seller may not be open to making repairs or offering concessions based on the inspection.

🚩 Does as-is mean something is wrong?
Not necessarily! The sellers may simply not want to deal with repairs, renovations, or negotiations.

The biggest takeaway? As-is does not mean skip the inspection. It means you want to do your due diligence and understand the condition before moving forward! 🔍🏡

09/22/2026

🏡Welcome back to “Victoria, What Does This Mean?” 🏡

This week: What’s the difference between an inspection and an appraisal? 🤔

They’re both important parts of buying a home, but they serve two very different purposes!

An inspection is for YOU, the buyer. A licensed home inspector looks over the home’s condition - things like the roof, HVAC, plumbing, electrical, foundation, appliances, and more - points out repairs, safety concerns, or items to keep an eye on. It helps you understand what you’re buying and can give you an opportunity to negotiate repairs or a credit.

An appraisal is for the lender. An appraiser determines the home’s market value by comparing it to similar recently sold homes. The lender uses it to make sure the home is worth the amount being financed.

Quick way to remember it:
Inspection = condition 🛠️
Appraisal = value 💰

Both matter, but an appraisal does not replace an inspection.

09/15/2026

🏡 Welcome back to “Victoria, What Does This Mean?” 🏡

This week: Do I pay my Realtor every time they show me a house?

Nope! 💁🏻‍♀️ Your Realtor is not paid each time they show you a home. Buyer’s agents are typically paid only when a purchase successfully closes.

Before we begin touring homes, we sign a buyer agent agreement that explains my services and compensation. In many local transactions, the seller agrees to cover the buyer’s agent’s compensation - but that is not guaranteed and can vary by property. Before we write an offer, I’ll always explain what compensation is being offered and make sure you understand any amount you may be responsible for.

✨ Have a real estate question you’d like answered? Send it to me! I may use it for the next Victoria, What Does This Mean? ✨

09/08/2026

🏡 Welcome back to “Victoria, What Does This Mean?”

This week: Contingent vs. Pending — what’s the difference? 🤔

Contingent: The seller has accepted an offer, but there are still conditions that need to be met, like inspections, financing, or appraisal.

Pending: The home is under contract and most of those conditions have been met. It’s typically just waiting to make it to closing!

Simply put:
Contingent = Under contract, but still some boxes to check ✔️
Pending = Almost to the closing table! 🔑

And remember — if a home you love is contingent, it may still be worth asking your agent about! 🏡

09/01/2026

Welcome to my new weekly series: “Victoria, What Does This Mean?”

Each week, I’ll break down a real estate term you may hear during the buying or selling process - without all the confusing real estate talk!

This week: Earnest Money 💰

Earnest money is a good-faith deposit that shows the seller you’re serious about buying their home. The money is held safely in an escrow account until closing.

If you make it to closing, it’s credited toward what you owe - it’s not an extra fee!

If the deal falls through, whether you get it back depends on the contract and why the deal ended.

Simply put: Earnest money = “I’m serious about buying this house!”

11/02/2025

Address

1083 Franklin Turnpike
Danville, VA
24540

Website

http://victoriageorge.elizabethwarerealtors.com/

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