short sale ?? taxes on appraisal vs selling price
We've 'bid' on a couple of short sales but our offer wasn't enough. We are about to do it again, but I have a few questions.
One, is that they just raised the asking price. We were told the bank wants more money from buyer as the seller can't pay more. ok...
we may be able to offer more, but if we do and the house comes back not worth that much (which we believe is the case), what happens with the homes actual value?
also, doesn't that raise the taxes?, as the house will of sold for MORE than the appraisal comes back?
I don't mind (ok, I do), paying off the sellers debt, but I sure in the heck mind paying more in taxes for a home that is NOT worth what it will sell for.
We were already told the house appraised out for less then the asking price. Now, the bank raised it.
It needs a lot of updating, which is up my alley, so I don't mind that, but the taxes worry me.
Does someone know the answer to this???