Posted by NJDAVE on April 23, 1999 at 18:56:10:
- Have you seen the ‘appraisal’ or has the owner simply said it has been appraised for $65,900? 95% of the homeowners think that the tax assesment is the appraised value which we, as ‘pros’ know is not the case. It may be, but more likely is not. A real estate agent’s ‘appraisal’ of market value may be inflated so that the listed asking price would cover liens and real estate commission, and would have no bearing on it’s true market value.
Suggestion: Decide what you are willing to pay for this house so that the ‘opportunity’ makes sense to you.
Then, with the Seller’s cooperation, proceed down the short sale route.
If you need help, contact me, or check website: www.spcho.qpg.com (we do shortsale administration for those homeowners who face mortgage foreclosure, investors, speculators, Realtors, and others who want to pay less than what is owed on a property…)