Home Buying in Hampstead>Question Details

rennwear, Home Buyer in Hampstead, MD

Can i use the home grant on an auctioned purchase?

Asked by rennwear, Hampstead, MD Mon May 13, 2013

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Most Real Estate Auctions that I am aware of are "As-Is" purchases with NO CONT. which means there is NO CONT. to financing, appraisal, home inspections, etc. This is an ALL CASH PURCHASE. If you elect to obtain some sort of financing the risk is all yours but remember you MUST settle in the time period specified in the terms of sale or risk losing your Non Refundable Cash Deposit that was required from you on the day of sale. Read the contract of sale for the full terms of sale before bidding at auction.
0 votes Thank Flag Link Mon May 13, 2013
Hi Rennwear,

Who is doing the auction? I have worked for auction company that will allow you 14 days to obtaining financing as long as you have the required EMD and 5% premium.

good luck
0 votes Thank Flag Link Mon May 13, 2013
As long as;
It is in CASH,
It is for more than the selling price of the house,
You have it in your hand at the Auction.

The Auctions are a Cash sale; no financing.

Very tenuous!
0 votes Thank Flag Link Mon May 13, 2013
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