Do you know if there is a pre-payment penalty?

Quote from @Jason Hatfield: @Jaycee Greene  they require a non refundable deposit and give 48hrs to see proof of funds I would suggest developing a relationship with an HML/PML that would give you a "guidance line" that would basically be a "pre-approval" for situations like this to present to the buyer/auction company.

Do you have a pre-approval or proof of funds ready?

That applies to replacement cost only and only if more $ is needed to restore the home to a pre-loss condition than what is available under coverage A.

It is on the road to White Pass and it's ski area so I am assuming you will get folks to ski.

Know that every long term lender will require a survey and if something comes up on it when you are trying to sell or refi, you could get stuck in hard money without an easy or quick way to get out.Is there a pre-payment penalty?

The seller would need to include a clause saying what you CAN'T do, which is what a pre-payment penalty would address. 

@John BowensAre you loaning from a pre-tax 401K or did you convert to Roth and then loaning from there?

Many states have laws about what an investor can and can't do when homeowners are behind on their payments and in the pre-foreclosure stage.By the time a pre-foreclosure home is listed by the real estate agent the home would like be sold at market value.

I also do a pre-screening questionnaire over the phone before I agree to a showing.