How Do You Buy A House A Couple Days Before Being Auctioned
I found a really nice house that is going to be auctioned off in four days. My question is what type of loan would be best for short notice? The terms of the auction is 5% down day of sale balance due upon delivery of deed within 30 days.
unless u have cash for the purchase price, a line of credit in place for the amount of the purchase price, or access to cash (friend, partner, relative, etc) you probably won't have time to line up financing. Have you checked title already?
I did not check the title. All I know is that the co-commissioners are two attorneys and the bid will stay open for ten days
You need to check title. If you think the house looksl like a deal and you want to bid on it, have an attourney check it (title search) - it should cost $50-100 depending where you are.
Also, buying a house "before" auction is very different from buyign a house "at" or "after" the auction. Which did you mean?