A few years ago I bought an investment property for $11k in a nice neighborhood, so the county assessed it at $52k, even though it is not habitable yet. I have been wanting to go into business for myself for a while now and was wondering if I tried to use that house as collateral for a business loan, would i get $52k worth of cash for it? I know the bank has the property evaluated, but does the evaluation differ much from the county assessment? It is a brick house in a nice area, so from the outside it looks fine, but the inside needs MAJOR work. I'm in another state now, so can I have them just check out the outside the house and give me an appraisal that way? Any info you can give me on this would be great!
2007-01-28
00:54:44
·
4 answers
·
asked by
Matt
4
in
Renting & Real Estate