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Updated 3 months ago,
Do you have experience using a private money lender for foreclosure auctions?
I am wanting to purchase properties to flip at foreclosure auctions in my area. I have spoken to PML that fund flips and they aren’t sure how to lend for auctions. The issue is funds are due immediately after winning the auction in the form of a cashiers check. The auction price can vary, but I would have a max purchase price for a property beforehand. The deed takes up to 30 days to receive from the trustee. So no lien can be recorded until the deed is received. Anyone have experience with PML for auctions?