Buying REOs on Auction.com with HML funds?

[Hugo Alves]

So I was eyeing a property for quiet some time and noticed it on auction.com. I decided to reach out to auction.com to ask some additional questions. Though the rep was very nice and mostly helpful, the information left me with one question, even though he told me i wasn't able to do this. 

Most properties, in my area, take 30-45 days to close, based on the rep and other posts that I've read. My question was, "If I win the auction, and pay the 10% of the total bid within 24 hours, can I work with someone to get funding for the rest of the money, since closing will only happen within 30-45 days?" The rep stated that I could NOT do this since it was a cash only purchase and I would require proof of funds right away. 

Any thoughts?

If it is true, any ideas on a better way to fund my purchase? 

Also, almost forgot, Is there anyway to identify the reserve price on a property when it's not disclosed on the site?

Luckily, this property did not sell that day as the reserve was not met, so i have another opportunity in a few days.

Thanks in advance