MY FIRST PROPERTY!

[Benjamin Willis]

So I am looking to purchase my first property. This place has been foreclosed and has potential for appreciation. In this particular place the market is good for flipping. My problem is getting a bank to lend to me. I've been to the tax office to find out what the home is worth and it is worth a significant amount more than what the bank is asking. Could I use the fact that the home is worth more as it sits as  collateral for the loan be as the bank could easily make they're money? Or would they laugh at me?