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Updated about 3 years ago,

User Stats

9
Posts
2
Votes
Jason Davis
  • New to Real Estate
  • Altamonte Springs, FL
2
Votes |
9
Posts

Sold at an auction then Chapter 7

Jason Davis
  • New to Real Estate
  • Altamonte Springs, FL
Posted

Hello Everyone, A homeowner in pre-foreclosure reached out to me to sell his house and it's a situation i've never heard of before. Looking for some guidance if i should even pursue it:

Situation: 

  • it went to preforclosure
  • chapter 7 Bankruptcy filed which stopped proceedings
  • The bank resumed foreclosure proceedings after 2 years
  • The property went to auction and was purchased (with a receipt and all)
  • chapter 13 Bankruptcy was filed by the seller
  • The Auction Buyer asked for their money back
  • chapter 13 Bankruptcy case was dismissed
  • Auction Buyer filed another motion to cancel the refund request and be the buyer of the property
  • Bank filed a motion agreeing with Auction buyer

From everything I see, the auction buyer basically owns the property unless:

  1. the judge decides to refund them the money and puts it back for auction
  2. I speak with the bank and see if something else can be done? (Is this even possible? it's december ... maybe they want to clear their end of year books ... i dunno)

I'll get a lawyer involved if need be but I wanted to get a baseline first, so any help is appreciated.

Thanks in advance!

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