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Sydnie E.'s profile image
Sydnie E.'s profile image
Sydnie E.
  • from Los Angeles, California
  • Member since Jul 15, 2012
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Sydnie E.'s profile image
Sydnie E.'s profile image
Sydnie E.
  • from Los Angeles, California
  • Member since Jul 15, 2012
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Sydnie E.
  • Los Angeles, CA
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Buying & Selling Real Estate

Short Sale Deal?

Sydnie E.
  • Los Angeles, CA
Posted Oct 6 2013, 16:56

Hello BP,

I interested in purchasing a home currently listed as a short sale. The home is on the market for 295,000. Based on Redfin the current value of the home is 394,000. This is my first deal and I'm wondering if I purchase this home with a private lender for the sale price of 295,000 how would I gain the actual value of the home? I know that a short sale means the home owner owes more then what the property is worth but would it be possible to refinance in a year or so and gain the actual value of the home? I'm confused on how this would work. Can anyone clarify? Any advise is greatly appreciated.

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