Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
How to buy a foreclosure without cash
Hello,
In October there's a foreclosure auction of a SFH that has been published at action.com for a while and I'm interested in it. Buyer needs to provide a check with funds at the time of the auction.
The house most likely will go for +300k and I don't have that much in cash. I could put 50k, so I need a loan for the rest.
Is there any way I can have a loan with funds? Or in other way, how can I participate in the auction?
Don't want to ask money to families or friends, so I was wondering if there is any sort of loan that I can do. If I won the auction, then I would request a conventional mortgage loan to pay the previous loan.
Any ideas or suggestions?