Posted by rm on July 22, 2003 at 16:57:12:
Court must approve sales… likely require approval of leases, as well.
However, her BK is in jeopardy of being dismissed due to her arrearage.
Have her check before you do too much work.
L/O Home while Buyer in Bankrupcy? - Posted by Brian Beard (MD)
Posted by Brian Beard (MD) on July 22, 2003 at 12:42:01:
Just got another call, lady wants out today!
will let go for what she owes $145K, comps at $210K
here is the situation, she is 2 months in arrears (about to be 3 months at $1295/mth) but is also in Ch. 13 (for ~$12k)
Can a lease option work in this situation if I make payments current and take over? What about the $12k? does that have to be settled now or when we sell the property??
Thanks for sharing your knowledge,
Brian Beard
Priority 1 Properties