Updated almost 9 years ago on . Most recent reply
Going from cash to financing at auction?
Good day, I am wondering how do people buy homes at auction. I know that seems like a basic question, I guess I'm really wondering where the money comes from?
I'm in Florida, and there are still many foreclosure auctions in my area, a few in my neighborhood. They all are cash only auctions, but the websites don't describe how they really work. I don't have the cash, but might be able to come up with a 10% down payment on the quick. I know a lot of these buyers are mortgaging these properties, I just can't figure out how. Thoughts?