Updated almost 6 years ago on . Most recent reply
LTV on a foreclosure
Hey, I'm looking at a multi-unit apartment building that's going through foreclosure. I'm exploring my financing options and trying to decide the most cost-effective way of purchasing it. It will sell for around $750k with an appraisal of around 1 million. If I get a loan for the property will they base the value off the selling price or the appraised value? Any suggestions on the best way to go about this? I'm exploring hard money lenders as well and then refinancing. Thanks in advance!