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Updated over 13 years ago on . Most recent reply

User Stats

22
Posts
1
Votes
Howard Salpeter
  • Real Estate Investor
  • Bethesda, MD
1
Votes |
22
Posts

buying multi-family in bankruptcy

Howard Salpeter
  • Real Estate Investor
  • Bethesda, MD
Posted

I have a contract on 21 unit property, now in feasibility period. The seller is in bankruptcy & trustee has approved the deal. The seller has been difficult & has not provided the requested due diligence materials. Can I bypass the seller & work directly with the trustee, or can the trustee force the seller to give us the information? This is a good property if the numbers work so I am not ready to walk.

I also wonder if this lack of cooperation on the seller's part might work in my favor in terms of renegotiating a much better deal near the end of the feasiblity period.

Experienced input is greatly appreciated!!

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