How do you buy foreclosed property if you don't have the cash in hand, but are pre-approved for a loan?

Fleece
Fleece
Home Buyer
Anniston, AL

Fri Jul 17 2009, 12:22 - Home Buying in Anniston - 1 answer
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Barry Lynn Mill...
Barry Lynn Mill...
Agent
Pell City, AL
FIRST ANSWER

If the Property will pass the appraisal you should be able to get the loan and buy the property. The Problem comes when the property is un acceptable to your lender. However you can do a FHA REHAB loan for damaged property.

Fri Jul 17 2009, 12:27
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