As a general rule assume that any auction is going to lead to you closing on the deal quickly. You really do not have a contract that can easily be changed or assigned.
If you really want to flip then stay away from auctions unless you are a cash buyer and can then resell after you take title.
I have a property that I am hoping to get before the sale; but if i dont i want to get it at the sale. I already have a buyer lined up (assuming he doesnt go to the sheriff sale and take it first). So, i cant buy it at the auction and then the next day assign it to a third party??
As a general rule assume that any auction is going to lead to you closing on the deal quickly. You really do not have a contract that can easily be changed or assigned.
If you really want to flip then stay away from auctions unless you are a cash buyer and can then resell after you take title.
John
[addsig]
I have a property that I am hoping to get before the sale; but if i dont i want to get it at the sale. I already have a buyer lined up (assuming he doesnt go to the sheriff sale and take it first). So, i cant buy it at the auction and then the next day assign it to a third party??
Thanks,
Kyle