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Updated over 7 years ago,

User Stats

53
Posts
22
Votes
Marco Petit
  • Flipper/Rehabber
  • Lake Worth, FL
22
Votes |
53
Posts

Buying a house while its in chapter 13 bankruptcy

Marco Petit
  • Flipper/Rehabber
  • Lake Worth, FL
Posted

Hey guys! I need a bit of direction on this deal: 3/2/1 | ARV: $235-240K | Mortgage: $151k | $15-20k in updates/repairs | The biggest thing is he is in chapter 13 bankruptcy. What is the best plan? I was thinking, do an option agreement for ~$170k and put it on the MLS for $190k+ (I'm licensed) or should I just simply wholesale it? Keep in mind the sale has to be finalized by the courts. I'm not completely sure how bankruptcy works so anything that can help me understand this better will be much appreciated.

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