Posted by David Alexander on January 10, 2001 at 15:42:17:
You can still take it subject to. What the bankruptcy court will want to make sure of is that the selelr doesnt make any money on the transaction… so the extra 10k the seller is trying to pocket would be a no no.
You would also have to payoff any arreage that is owed ofor the house to the bankruptcy court to get them to release it from the bankruptcy.
But worse case scenario with numbers like that… fix it keep paying the bankruptcy court the money for the house and rent it forever.