All Forum Posts by: Tarik Turner

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

What is the current value of the property 

Your can probably expect closer to 15k minus loan costs..

Most lenders will offer a Max LTV on a cash out refi of around 70% to 75%

@Marvin MillerIs this your primary residence or an investment property 

Your best option might be a bridge loan if funding is needed immediately or to pay down some debt to at least raise your score above 650 if you have the time and finances to do so (Your loan options would expand right around that number)

If recorded properly the owner would actually hold a lien on the property which has to then be paid off at the time of your refinance 

That information is not correct. Of course you can refinance a property while holding it in an LLC.

Did you ever find a loan solution for this scenario 

Find a lender who has competitive rates, great response time minimal junk fees and who you can establish a good working relationship with.

There are a ton of lenders out there pretty much offering the same products so find the one (or the few) that you are most comfortable with and depending on the details of your deal know which of your lenders are best suited to handle that deal in particular based on their criteria

Giving the numbers on your deal would probably get you a bit more traction, but there are a ton of products out there available