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Updated over 10 years ago,
Questions to ask Seller in Bankruptcy
I have a meeting with a very motivated seller on Thursday who filed for bankruptcy in January. Before I can analyze this deal I feel like I need more info, and need authorization to talk to seller's lender and BK trustee. What should I find out from this meeting?
What I know:
We are in Colorado
Seller said she is 4 months behind on payments, but i don't see an NED filed on county public trustee site.
I know she has a BK attorney
Her principle balance is around 162k, but do not believe this is final payoff
My desktop evaluation of the house is 180-185k
What I don't know:
What type of BK she has filed
If the BK trustee is requiring the sale or not
Does the bank have any say in price i.e. short sale, or just the trustee?
Any advice is appreciated.
Kindly,
Dave