how do appraisals work when buying a home?

Credit and mortgage advice Forums Buying Your Home Buying Your Home how do appraisals work when buying a home?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 4 months ago.



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    Anonymous

    this house was $ 600,000 when it was first listed. I came in after it had been on the market for 2 months. I offered $ 568,000 and they took it. They are paying me $ 15,000 after everything for closing cost and so forth. Now, what i wanna know, is that if i hold this home for 6 months, can i make any money on it? Its in east palo alto,ca. I wanna buy it, put some money in to it to make it look nice, and fix things up. Also, if i do fix it up, Do i get an appraisal before i do, or after? If i get an appraisal before, if they say the adjustments i made to the house make it more money, is that immediate equity? Please help me with any info you have on this. I want to buy this property and sell it for more, without putting a lot of money into it. Hopefully to get rid of it within 6 months



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