Foreclosure auction in a week, how do I make this deal work?

[Nick Dunin]

I found an off market property that's going to foreclosure auction next week.  I guess owner sat on it too long, he took my offer quickly.  This was befoe I realized the auction was a week away.  I'm planning on using a local lender so thats going to take much longer than a week.  I need to find a way to stop the foreclosure auction.  Any suggestions?

[Chris Teti]

Quote from @Nick Dunin:

I found an off market property that's going to foreclosure auction next week.  I guess owner sat on it too long, he took my offer quickly.  This was befoe I realized the auction was a week away.  I'm planning on using a local lender so thats going to take much longer than a week.  I need to find a way to stop the foreclosure auction.  Any suggestions?

 Not sure about how it works in Texas, but in NJ you usually can get an extension of 2 weeks 2 times, especially if they know the property is under contract to be sold. Foreclosures cost alot of money for the mortgage company so it's worth it for them. I would call (or call with the seller) the attorney handling the case to see if you can get an extension.