Buying a house at auction
We are looking at a house that is being auctioned next week in Gulf Shores. They only accept cash. What is the best way to show cash in hand in order to buy it when you don't have the cash and need to borrow the funds? Thanks in advance.
Most Popular Reply
What is the financing vehicle? If it is a credit/equity line, you could provide a lender letter that the funds are available immediately for funding - and cured any recission period. If you're going to need a mortgage, you're locked out of the game. You won't be considered a viable buyer and not allowed to bid.