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Updated about 11 years ago on . Most recent reply

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23
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John Schnyderite
  • Hillsborough, NJ
0
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23
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Buying a property in bankruptcy

John Schnyderite
  • Hillsborough, NJ
Posted

There is a property on MLS I have seen which apparently has a trustee handling negotiations. The home needs some work, but we are interested in bidding on it.

In researching this type of sale, I read elsewhere that paying the trustee may come out of the buyers pocket -- does anyone has experience with these types of sales? Is that true and if so, is there a way to calculate their cut so I don't over-bid? Is there anything else to know or look out for?

Thanks!!

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