If you are planning to purchase properties that have already gone through the foreclosure process and are now owned by the bank then you can either finance these or pay cash.
On the other hand, if you are looking to purchase properties at the foreclosure auction / trustee's sale, then you must pay cash for these properties at the time of sale. Purchasing properties at the Trustee's Sale is usually not the best way to acquire a personal residence. You are not able to "preview" the property before the auction and unless you have a team of experts working with you, you could very well end up buying a property that is NOT free and clear of liens, like the properties you purchase through a Realtor.
If you want more information about buying at auction vs. buying a bank owned property, please feel comfortable reaching out to me directly.
Shel-lee Davis BRE #01817412 Real Estate Consultant International Real Estate Specialist - IRESÂ® Senior Real Estate Specialist - SRESÂ® Certified Home Seller Advisor - CHSAÂ® Certified Home Buyer Advisor - CHBAÂ® Member - National Association of Certified Expert Advisors - NAEA Certified Distressed Property Expert - CDPEÂ® RE/MAX Estate Properties 424-2HELP12 (424-243-5712) firstname.lastname@example.org... more
If you call our customer service tomorrow at 619.521.3478 and give them the address, they will give you all of the pertinent documents relating to the foreclosure and information about the outstanding trust deeds. Mention my name. The information is free. Please e-mail or call (619.507.5688) me if you need help understanding what they send you.... more