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Updated over 8 years ago,
Financing for distressed properties
Hello Everyone,
I have a very basic question:
I've decided to buy homes from distressed sellers (absentee owners, pre-foreclosure etc.)
Can I use a mortgage to pay for it, or do they always require cash for it.
If I take a mortgage loan with a bank, will they pay the seller?
What if the property has lot of damage e.g. fire damage? Do I need to pay for it all in cash?