I have a property I am going to take over Subject 2. The homeowner is probally going to file bankruptcy in the near future after this transaction. Will the bankruptcy have any bearing on the property i acquired???
You can have a problem since they will place the property in the BK13 they will most likely file. No matter what they are doing or say their lawyer will advise the property be included and then you have to deal with a trust lawyer.
Since you know they will file BK, i would suggest moving on the next deal. Do not get involved in a BK property. its hard enough to short sale a home that is in a BK, let alone be paying and watching it go into BK
I have one home that the previous owner filed for a Bank Ruptcy on, I have had it 9 months now and no problems.