You can buy properties from a property auction using a bridging loan. Often due to the fast nature of auctions, finance needs to be secured quickly, so this is where bridging finance is unrivalled.
There are two main reasons why a property may be available via auction.
Property tax default auctions.
Property tax default auctions sell properties seized by the tax authority when a homeowner has failed to pay property taxes.
Foreclosure auctions list properties for sale where the homeowner has fallen into default for missing mortgage payments, forcing foreclosure.Back