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Updated over 11 years ago on . Most recent reply

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11
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0
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Tracy Briggs
  • North Carolina
0
Votes |
11
Posts

Won bid on Courthouse Foreclosure sale .... NOW WHAT!!!!

Tracy Briggs
  • North Carolina
Posted

In NC there is a 10 dsy upset period, I was awarded bid today.

Bid amount $55,000 .... confirmed recent comparables $125,000-$135,000.
Home needs $25,000-$30,000 in repairs very worst case scenerio.
I want to flip NOT keep for rental.

I don't want to tie up my cash. How should I proceed with the bank?

Pay the $55,000 in cash and try to get a refi cash out? Get a home equity loan?

Thanks in advance for any suggestions.

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