Hard Money at Auction

3 Replies

I'm curious about how the process of using a hard money lender for an auction property. If the property is set to be auctioned on a specific date, and I would have to make the payment on that day, how do I go about getting the hard money loan in time for the auction?

All auctions aren't cut the same so it depends on what type of auction you are talking about.
Most online auction (Such as Hubzu) allow enough time for financing. just be sure that you will be able to have full access to the property during the DD period

Some foreclosure auctions require the full balance to be paid in short order (e.g within 24-48 hours). Others have longer periods (the most I've seen is 30 days) to pay the balance. You would have to pay the deposit in cash up front and the lender would be how you pay the balance provided the time gap is long enough.

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