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Private Lending & Conventional Mortgage Advice

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Quintin Mortensen
  • Residential Real Estate Agent
  • Salt Lake City, UT
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71
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Has anyone ever financed a courthouse trustee's sale?

Quintin Mortensen
  • Residential Real Estate Agent
  • Salt Lake City, UT
Posted Jul 7 2014, 15:52

I noticed a paper on the door of a condo next to mine in Salt Lake City, Utah. They are having a courthouse trustee sale on it July 21 and i'm interested in it. I'm thinking it will go in the $60k-$100k range. I have about $8k I could put down but i'd like use that to fix it up.

I talked to a few banks / credit unions with no luck so I was wondering if anyone had some experience financing these or some creative ideas I could try (especially in Utah.) They need a $20k check by noon the next day and then the rest paid of quickly. 

Thanks in advance for the advice.

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