Forclosure auctions - Posted by Crystal

Posted by Crystal on November 21, 2000 at 12:39:01:

A letter of credit won’t work apparently because the attorneys want a cahiers check or cash within about 3 hours of the close of the auction.

Forclosure auctions - Posted by Crystal

Posted by Crystal on November 20, 2000 at 14:13:55:

I have a question about financing on a forclosed property. In Georgia we have found out that to bid at a auction you are required to have the entire bid amount at the time of the auction. We have been pre-approved for a loan up to a specific amount, but we are unable to get that money until we have the home. My question is, how does one get a loan without already having the property that you are bidding on?Any help would be appreciated, we are just trying to get started in real estate.

Re: Forclosure auctions - Posted by Matt

Posted by Matt on November 20, 2000 at 19:46:36:

You can take a letter of credit with you.

Re: Forclosure auctions - Posted by jay wong

Posted by jay wong on January 30, 2001 at 06:51:24:

where could i find out about forclosure auctions seized from by banks and the city. also i have inquiries about HUD.

Re: Forclosure auctions - Posted by Lance

Posted by Lance on November 21, 2000 at 21:21:27:

that would be good for a laugh