Sunday, September 7, 2014

Who gets the property profit of my house after I sell?

Kind of new when it comes to real estate and mortgages.

I purchased a short sale house in 2012 for $285k.

My wife and I fixed it up with exterior and interior renovations (siding, wood floors, refurnished whole basement, paint).

Houses on the block are going for $350-369k now in 2014.

If I put up the house for sale for around $350, do I make the $65k profit or does the bank get it?

How exactly does it work? I want to sell and relocation to West Florida.

Thanks 10 points!

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