How do I pay for a home purchased at a foreclosure auction?

In my county (Fulton County, Georgia), when a home is auctioned off for tax reasons, payment must be made within an hour of the auction close. The payment must be made in cash or certified funds. How would I pay for a home purchased as a bank foreclosure? Same? It seems difficult to show up with hundreds of thousands of dollars in cash.

You will need to get pre-approved with a hard money lender.
But you need one who will do “at the steps” funding. They can fund the same day of the auction.

Go to the local REIA to find a hard money lender.

2010-01-02 18.55 How to Find a Closed Auction.wmv

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