Auction condo financing

[Harsh Poshti]

Hi,

I won a condo at auction. The contract ratification took 4 months,  now it is clear to close. now, I have to purchase it in less than a month. I was told by the Trustee, I could finance the condo instead of buying it with all cash.

However, since this is auction property and doesn't allow someone to do inspection from inside most of the lender are suggesting that get a hard money loan instead of conventional investment loan.

hard money loans are expensive (12% to 13% + origination fees).

Does anyone has done this before with conventional investment loan where you don't do the inside appraisal.

or any recommendations for lender who can help achieve this?

Also, FYI the condo is FHA approved.

[Sophia Buesing]

Hard money loans would be the best way to do this scenario. Traditional lender will want to see the inside of the property.