Comments on: How can I finance the purchase of a flat I buy at auction ? http://financestate.info/how-can-i-finance-the-purchase-of-a-flat-i-buy-at-auction/50/ The state of finance... In today's times. Thu, 08 Apr 2010 17:42:19 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Todd http://financestate.info/how-can-i-finance-the-purchase-of-a-flat-i-buy-at-auction/50/comment-page-1/#comment-58 Todd Sat, 07 Jun 2008 15:46:06 +0000 http://financestate.info/how-can-i-finance-the-purchase-of-a-flat-i-buy-at-auction/50/#comment-58 I would recommend setting a price you won't go above and then arranging your financing for that amount. This will keep you from getting buyer's frenzy at the auction. Make sure the amount you agree to purchase it for makes financial sense. One way to finance it would be to get a hard money loan (I assume you have these in Britain) to cover the initial purchase and then once you have the property secured you can get a normal bank loan to replace the hard money loan. Todd I would recommend setting a price you won’t go above and then arranging your financing for that amount. This will keep you from getting buyer’s frenzy at the auction. Make sure the amount you agree to purchase it for makes financial sense.

One way to finance it would be to get a hard money loan (I assume you have these in Britain) to cover the initial purchase and then once you have the property secured you can get a normal bank loan to replace the hard money loan.

Todd

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