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Updated about 10 years ago on . Most recent reply

User Stats

13
Posts
6
Votes
Mark Perrill
  • Real Estate Investor
  • Dallas, GA
6
Votes |
13
Posts

Bankruptcy--Why would a debtor sell me their house?

Mark Perrill
  • Real Estate Investor
  • Dallas, GA
Posted

I have access to a list of debtors who declared BK.  The house was protected by the BK initially but the court is going to remove the house from the protection of the BK.  Before I spend time and money marketing to this list, I would like to map out some plausible problems they have that I can solve.

Here is what I have so far.  Is there some big "pain" point I am missing?

  • They can control when the move instead of letting the sheriff throw them out
  • I could try to set up an "us versus them" about the 'greedy bank.'  Don't want to let the !@#$ 'greedy bank' take your house.  Sell it to me instead.
  • Some moving money
  • Avoid a foreclosure on the credit report--but still have a BK.  So their credit is wrecked anyway.

That's about it.  Maybe I don't know enough about the process.  Is there a compelling reason a person going through this process would rather sell to me on a short sale or a sub 2 instead of living for free until the foreclosure process plays out?

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