Posted on: 28th Aug, 2009 07:53 pm
WHAT IS THE TRUE LEGAL AMOUNT A HOUSE CAN BE SOLD FOR? XAN SOMEONE OBTAIN A MORTGAGE ON A HOUSE IF THE TITLE IS NOT CLEAR OR WAS NOT FILED PROPERLY?
Hi LLUDRA,
The property appraisal would decide the value of the property. The seller can sell the property for that amount or lower it as per his/her discretion. The mortgage company would check if the property title is in the borrower's name or not before giving the mortgage. If there's any discrepancies, then the lender may not give loan to the borrower.
The property appraisal would decide the value of the property. The seller can sell the property for that amount or lower it as per his/her discretion. The mortgage company would check if the property title is in the borrower's name or not before giving the mortgage. If there's any discrepancies, then the lender may not give loan to the borrower.