Los Angeles, CA · Member since 2015 · 17 posts · 0 votes
Hi everyone, this seems like such a basic question but I was hoping someone might be able to give me a full understanding. I have a leads list that gives me the following:
Estimated value
Estimated total loan balance
Assessed value
I'm thinking I can just subtract est. loan balance from the estimated value to get my estimated equity... Am I thinking this through right? From here if there's a large negative difference could I determine if a foreclosure is a potential short sale candidate?
I might be all mixed up here but any feedback again very appreciated!
Buy & Hold Owner · Redlands, CA · Member since 2015 · 5k+ posts · 2k+ votes
10y
Originally posted by @Account Closed:
Hi everyone, this seems like such a basic question but I was hoping someone might be able to give me a full understanding. I have a leads list that gives me the following:
Estimated value
Estimated total loan balance
Assessed value
The last one is only a property tax value, so forget that one.
Assuming that the Est Value is accurate, then Est Value > loan balance suggests some equity and clearly the opposite says the owner was under water.
Short sale?? depends how badly the bank wants it off their books.