bad timing - Posted by suann

Real Estate Investing
1

Posted by John on May 20, 2005 at 21:56:22:

Hold on a minute!

This house appraised for 39K and you will sell for 65K. How is this possible? Appraised value is the market value and the amount that a lender will loan money. A property will start off in the auction on what is owed on the loan.
What repairs are needed? What was the BPO price you worked from? What was your offer? What did the bank say about your offer?
Give some more details and we can try to help you.

2

bad timing - Posted by suann

Posted by suann on May 20, 2005 at 19:43:21:

Hello,

I tried to do a short sale on a house several months ago, the bank would not go for my price,

Now I found out it is going to a Sheriff Sale in a couple of weeks, it has been appraised for $39000, That means it will not sell for less than $21,000. Right?

Is it to late to make another bid on it?
Also I only have $15,000 cash, Anyone got any ideas on how I can get this house, I know there is profit in it.
It should sell for $65,000 at least.

Thanks for any help
Suann