I am wanting to buy a property for my ForeverHome(never resale),its a shortsale but was purchased just 5 years ago for 9x the mkt value.

Asked by Likewater, 29920 Tue Apr 5, 2011

all area homes have the original mkt value. Do I have a chance offering the actual market value not the inflated selling price?

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Robert Bowden, , Beaufort County, SC
Wed Apr 6, 2011
We are finding the local banks are easier to work with as we have reat relatioships with most. Wells Fargo, B of A, Wachovia, GMAC and others however are more difficult. Who is helping you determine current market value? If you are currently working with an agent or appraiser they can be the most helpful as we have access to the best information.

If you are trying on your own it can be daunting. Feel free to contact me if you'd like and I'll be happy to help.

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Russ Fielden, , Beaufort County, SC
Tue Apr 5, 2011
We can help you determine if the bank is likely to accept an offer at today's market value. It takes some research. Would be glad to help. Our office is on Ladys Island and we are very familiar with short sales and the market.

Southern Coast Realty
You can reach me through my website
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Dan Mengedoht, Agent, Charleston, SC
Tue Apr 5, 2011
Likewater, what is 'original market value'?
Pay market value. If you are financing, your lender will not approve a loan for more than market value.
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