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Updated over 8 years ago,

User Stats

3
Posts
2
Votes
Brian Gossett
  • Simpsonville, SC
2
Votes |
3
Posts

Financing a County auction foreclosurer

Brian Gossett
  • Simpsonville, SC
Posted

Hello -

I'm a new venture into the real estate space, so please bear with me through my initial learning and ignorance. 

Are there financing options for buying a foreclosured home in auction? In my County, there are foreclosure sales monthly.  At the time of the winning bid, you are required to put 5% down - no problem there. To pay the remaining balence, I'd like to use the banks money - what financing options would be available for such a transaction? 

My ownership would be short term, with plans on flipping. 

Thank you in advance for your thoughts and help.