is it true you have pay for home at a auction with cash up front


#1

can you finance a home at a auction


#2

trustee sales at auction requires all cash up front. you need to show your money before you can bid.


#3

Yes, that’s correct. River Forest will bring up to 75% of the purchase price to the Riverside, San Diego, OC and LA auctions to help our clients purchase the properties. 949-461-9914


#4

Can you explain how this process works. Thanks!


#5

Check out: http://www.youtube.com/foreclosureradar#p/u/0/1CanJbhGdJM


#6

Thanks Sean, very helpful!
Do you know how the process works when purchasing a home at the auction with an investor who provides the cash up front?


#7

No set standards here, but I would suggest having a written agreement… especially if you provide any cash up front.


#8

Sean,
With this property it shows the 1st and 2nd as the same lender but with different amounts. Is this good or bad? Also I couldn’t find any REOs from this lender, I was trying to find that lenders discount percent, any tips on getting that percentage?
Thanks!

Transactional History:
Type # Date Doc Grantee Amount
transfer 12/07 Maria T $875K
loan 1st 12/07 Suntrust Motgage Inc $417K
-NOD 12/09 Recontrust Co NA $9692
loan 2nd 12/07 Suntrust Mortgage Inc $350K