10 days to auction, wholesale deal Help needed

[Kody Smith]

Hi everyone,

Situation:

A foreclosure seller called me back today to finally make a deal.  He informed me that the auction would happen in 10 days, so he needs to sell right away.

ARV: 2.5M - 2.6M
Repair estimate: 180k

school zone: 9/10 rating a very popular school zone for the area.

he owes 700k in areers! but there is equity in the property.

he wants to get 2.2M for it in an ideal world.

My situation:

i'm invested in other properties for fix and flip, so I can not flip this one myself... though I wish i could. (any lenders welcome to help me figure this one out!)

question:

1. How can i delay or stop this auction, so that I can get the property marketed for a higher price?
2. are any of you open to closing a deal like this (happy to share all details and make a connection)
3. Can his attorney delay the auction?  I heard bankruptcy laws recently changed... i'm not sure. 

[Joe Homs]

@Kody Smith 

1. How can i delay or stop this auction, so that I can get the property marketed for a higher price? (Prepare a purchase agreement, have the seller call the bank and tell them it's in escrow.  They should postpone it for 30 days.
2. are any of you open to closing a deal like this (happy to share all details and make a connection) Does not sound like there is enough money in the deal.  Is the seller just willing to walk away with some minor moving money?
3. Can his attorney delay the auction? I heard bankruptcy laws recently changed... i'm not sure.  An attorney can do anything for money.  Yes, he can still file bankruptcy, but that is only for a 30 day period (last resort.)

Good Investing...