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Updated almost 3 years ago,

User Stats

14
Posts
7
Votes
Xavier Pinkett
7
Votes |
14
Posts

Financing Foreclosure Auction Deal

Xavier Pinkett
Posted

Hi,

I am investor based in Panhandle Florida. I found a property in a excellent real estate market for Airbnb. Private access to a pier and short distance to the beach. I have ran some numbers and it looks like a great opportunity. 

My problem is the house is scheduled for auction. I would love to acquire the property prior to the auction and I have reached  out to the trustee but the phone number provided was automated. If I have to wait to auction what will be the best way to finance this deal?

I've estimated the value to be 390-410k. I want to purchase at 290k with a MAO of 320k. I choose 290k because the house was previously listed at that price. Since proof of funds needs to be provide at the auction, what are my best options.

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