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Updated about 2 months ago,
Looking for hard money lenders for foreclosure property.
Hello everyone
I am looking for hard money lenders to fund me to close on a foreclosure property. The property is in good shape and great area and neighborhood. The property was foreclosed by the county and auctioned it and the lender bid about 300k on it and no takers. There is about 10 day bid upset period in NC and I can bid on it and win the bid if no one else bids more than me. Else the property will be a REO. The ARV on this is about 475-500k.
Problem is I cannot get conventional financing as I don't have access to interior and a full appraisal is not possible.
An llenders can help me with funding these kind of deals? Any input is appreciated. Thank you.