It depends on the deal and your credit score. You can sit with a mortgage broke that can prequalify you. I know one that can get you approved before you find a house subject to appraisal.
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Not a legal question, that is a question from the bank you will be trying to get your loan from. If you buy it at auction you should expect to have a sizeable (20 percent) deposit in cash or cashier's check on you at the auction.
When you ask 5 or 10 questions on the same topic, you are probably showing you need an attorney. There is just too much in the complicated transactions that come with this kind of transaction.
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