buying a home thru private action.
A person I know is putting his home up for sale and choosing to sell it buy actioning off the home. as this is a small town, I do not see it selling for much. not being able to just offer a buy out price. I need to know the general rules for financing. if I win the action? do I have time to go through conventional means or do I secure a second mortgage on my current home to immediately pay the winning amount?
yes, there are a lot of details I have left out on why it must happen this way, but it is what it is.