Hi Havanas,

The amount of the mortgage outstanding and the County Appraiser's tax value have little to do with the value of the home in the current market. You have not included a link to the property you are looking at, so there is no way to give you even a rough guide to the home's value. Ask your question again, but from the details of the property. There will be lots of pros giving you an opinion.

Good Luck,
Mark LeMenager
Weichert, Realtors - Hallmark Properties

Havanas do not confuse tax assesed value and an appraisal. Have your Realtor® run comps to see what properties in the area are worth and write your offer knowing that the lender will normally go a little under that. Good luck and on short sales be prepared for a wait on the lenders response.

Depends on the property condition. If you plan to mortgage the home - your mortgage company certainly will not ok a deal that it cannot collect on...
Appraisers don't always take into consideration what is going on inside that "pretty face".
I suggest a very thorough inspection - so you know what you are getting yourself into. Base your offer on the comps in the area and well thought out numbers that need to go into the home (to bring it up to snuff).
You know what they say about short sales...
(if you don't - talk to someone that does!)