Updated about 4 years ago on . Most recent reply
Financing Foreclosure Auction Deal
Hi,
I am investor based in Panhandle Florida. I found a property in a excellent real estate market for Airbnb. Private access to a pier and short distance to the beach. I have ran some numbers and it looks like a great opportunity.
My problem is the house is scheduled for auction. I would love to acquire the property prior to the auction and I have reached out to the trustee but the phone number provided was automated. If I have to wait to auction what will be the best way to finance this deal?
I've estimated the value to be 390-410k. I want to purchase at 290k with a MAO of 320k. I choose 290k because the house was previously listed at that price. Since proof of funds needs to be provide at the auction, what are my best options.