i have a property im looking to purchase. i’ve been told two different things. purchase price is 220k, property appraised for 315k. isnt this the equity? i was told that there isn’t any equity in this property because it is a short sale. is that the case?
How old is the appraisal? Who appraised it - an appraiser or a tax appraiser?
Keith
methinks that if it was worth 315, they wouldn’t be selling it for 220.
I’ll take 10 of those deals every day.
Do you not know how to work out what if any equity there is on this property ?
Couldn’t be the appraisal that the bank who has the mortgage on it ordered. If there was that big a discrepancy, the bank would halt the short sale.