Has anyone pursued a preforeclosure that filed bankruptcy?
Cliff
I have not completed one yet…but I think the only way you could procure that property would be to do an outright purchase, either thru a short sale or just paying off what they owe.
I am in the middle of a deal now where the seller is in b/k and we are pretty much ready to close except we found out that the Trustee of the Bankruptcy has to sign off on a document allowing the seller to sell his home. The Attorney’s office said it could take up to 3 weeks… :bash:
It won’t really stop you unless you are trying to do a sub 2 deal.
I hope this helps.
RH
I was contacted today by an RE Agent, he had three houses that are in foreclosure status, but are in bk… They are interested in pursuing a short sale deal, but I know it take a while for the deal to be approve or disapprove.
Thanks for your help.
Cliff