Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago,

User Stats

18
Posts
0
Votes
Jocelyn Conner
  • Investor
  • Denton, TX
0
Votes |
18
Posts

Great deal caught in Bankruptcy

Jocelyn Conner
  • Investor
  • Denton, TX
Posted

Hi Bigger Pockets Family,

I recently ran across a deal and from the numbers standpoint it makes sense, the only catch is that the client has been unemployed for two years so to keep his house and car, he filed bankruptcy. He hasn't paid on the bankruptcy in three months, so when I contacted him he was extremely motivated to sale.

I had my attorney contact the bankruptcy attorney and was advised that he wanted a fee, to see the contract for sale of house, wanted title insurance and a HUD statement.

Normally, as wholesalers, we don't use any money and truly I'm not ready to start breaking that practice but I'm looking for insight. What would you do in this situation....

Loading replies...