How do auctions work in NC?
I’ve done research on foreclosures auctions in my county and still confused on how they work. I’m specifically looking for Guilford County/Triad/Triangle areas.
My main questions are:
1. Can I do conventional financing? It’s seems that the answer is no but are there exceptions.
2. What about hard money? Seems to be the same as above.
3. So I win a bid, and I put down 5% earnest money. What next? Do I have time to gather funding or is it required at that time?
Any help would he great, you don’t have to be an investor in those areas. Just thought each county has its own guidelines.