Help. Auction On July 30th!!
I have found a property that is going to be going to auction on the 30th of this month. I was reading through all my notes and everywhere I look it says that I can purchase a property until it goes to auction. I have an investor lined up that can get me cash in 24 hours. What do I do next? Where do I go to get all the documents and paperwork? Who do I have to go to? Can I just go to an escrow company or do I have to use a realtor. What else do I have to have done so that I get the property and it does not go to auction. Please help quick!! Thanks in advance. 
I can sense the urgency in your message!
First, I assume you have permission from the owner to by/sell their property.
Next, contact the attny for the bank (or the bank rep.) and put in a short-sale offer on the property. You will need to discuss this with the bank, as you will need specific forms to submit an offer. As you are aware, the short-sale offer should be less than what is owed on the note. If you are OK with the amount that is owed, and you plan on selling it to the investor for more than that figure - no need to short-sale.
Additionally, I would have a contract to purchase document set up with you and the owner for an agreed upon price. Make sure you have and/or assigns after your name (you will be selling your option to the investor). Then get an offer to purchase from your investor for an agreed amount.
Contact a local real estate attny for help in getting these forms together.
If the investor can have the cash in hand in 24hrs, I would have that person give you some sort of proof of funds to show the bank (this is good leverage for stalling the auction a bit).
Time is short - your best play would be to contact the bank ASAP and see if they can stall the auction until you get all your ducks in a row.
Good Luck,
Tbud
Sorry for the short response, been gone for a month.
RUN TO THE FEDERAL B?ANKRUPTCY COURTHOUSE WITH THE OWNER AND START A BK RIGHT NOW!!!!!!
This will halt the foreclosure and give you the time you need to go to an escrow Co and put together the sale. Anaheim is the place for the BK court local in So Cal.
Buy yourself time. You don't need a realtor (I work with 60 of them).