I need advice on funding.

I found a 2bd/1ba condo 920 sq ft. It needs some TLC. Flooring, paint, kitchen and bathroom Cabinets. It's a FORECLOSURE BANK OWNED condo that has been on the market since Jan. The asking price is $11,750 I have $7,000 no hand. If they don't accept my low offer should I use a hard money loan to close the deal and what's the best way to fund the rehab?