Buying a only cash property

[Kyle Merritt]

BP peeps, I'm Would like to buy a home that's in a all cash auction. My plan is to renovation it and get it ready for rent. I have a few questions:

1. I don't have the cash, but I could go get a personal loan for the amount needed. Is there a better alternative? 

2. If I purchase a property with all cash, can I do some kind of financing afterwards to get my cash back? 

Advice please, thank you. 

[David Faulkner]

Originally posted by @Jay Hinrichs:

@Ned Carey all western state foreclosure auctions are day of sale cash on the barrel head... you bring cashiers check day of sale and hand it over.. its your job to check title before the sale.. you take title subject too at the time of the sale.

Its not like East coast were you put a deposit then have 30 days to close like an escrow and the judge has to confirm and all of that stuff.. those are judicial sales.

I am talking trustee sales..

its that way in GA as well...

Yep, and as a matter a fact, the auction old timers sure do get a kick out of watching unsuspecting newbs overbid a property (and they are more than happy to help bid them up) thinking that they got a great deal only to find out later that it had a huge lien of one sort or another that came with the property they just bought and wiped out their profits, and then some. Most folks I know that do this have a trusted title company that they are loyal customers of that will pull title for them ahead of time, or they know how to investigate title on their own ahead of time as Jay mentioned ... then there are those that don't know that and find out the hard way as mentioned above.