Investing on a Foreclosure with a loan?

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You need cash upfront at the auction. In some cases, they may even check your cashier's check beforehand. That doesn't mean financing is impossible. If one had enough cash to put down on the house at the auction, that person could purchase the house at auction and immediately refinance using hard money loans to increase liquidity. Foreclosures can be tricky, so it is generally best for experienced investors to bid on them. You buy as is which could be a problem. REO's can be traditionally financed. So, you could wait and see if a property is failed to be sold at auction and purchase them once they are REO's through traditional financing.

Good Luck!