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Updated almost 10 years ago, 01/29/2015

User Stats

24
Posts
4
Votes
Chris Cooper
  • Investor
  • IL
4
Votes |
24
Posts

Finding Money for Personal Purchase at auction

Chris Cooper
  • Investor
  • IL
Posted

Hi - new to the forums here.. 

Question came up for a home my wife and I want to purchase at auction. At our auctions, 10% of winning bid is required with balance within 48 hours. We have close to 60% of the final price, do you know of any place that can provide funding for the remaining balance on short term?

Ideally, we would get the loaned money after we win the auction. Then once we have the Deed we will refinance through a conventional lender and pay back the first note with interest, etc...

Wasn't sure what options for fast cash for someone buying to live in a foreclosed vs using it as a investment vehicle. 

Thank you for any suggestions. 

Chris

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