Regan_copela…, Home Buyer in

so, you cannot get a loan in order to purchase this property?

Asked by, Tue Jan 8, 2013

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No, it seems by the description the property is not in good enough shape to get an appraisal at the amount you would need to borrow. Be careful if you don't know what you are doing and you attempt to buy all cash. I suggest working with an agent that knows what they are doing. Call Shannon Chang at 626-319-8545
0 votes Thank Flag Link Tue Jan 8, 2013
With homes that have extensive damage to them that the owner is not going to repair, a bank will not loan on it . Since this is a short sale, the owner has no reason to repair because none of the sale is going to him/her - it will be going to the bank to pay off the loan at a discounted amount due to lack of equity.
0 votes Thank Flag Link Tue Jan 8, 2013
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