I’m a beginner who’s looking into the possibility of buying a primary residence at a trustee sale. I understand the risks involved, but one question I have is regarding the logistics of hard money financing. How do I get the hard money loan completed in time to pay for a winning bid on the court house steps? I’ve read where you have a day to come up with the money, but there’s no way I want to risk a hard money lender not funding me in time to pay for the transaction and then losing a 10k deposit. Do I have to find a hard money lender who will physically come to the courthouse with me with their cashiers checks, or is there another way of doing it?
i.e., is there a way to get guaranteed hard money financing before a successful bid?
I’m in Staninslaus county, CA…not in the big cities, so I have my doubts there’s a hard money lender in town willing to physically show up with me.