Short Sale Deal?

[Sydnie E.]

Hello BP,

I interested in purchasing a home currently listed as a short sale. The home is on the market for 295,000. Based on Redfin the current value of the home is 394,000. This is my first deal and I'm wondering if I purchase this home with a private lender for the sale price of 295,000 how would I gain the actual value of the home? I know that a short sale means the home owner owes more then what the property is worth but would it be possible to refinance in a year or so and gain the actual value of the home? I'm confused on how this would work. Can anyone clarify? Any advise is greatly appreciated.