Could I have purchased this property from bankruptcy?

[Ibrahim Hughes]

I generally purchase tax delinquent properties. And some of my better deals tend to be tax foreclosures.

However one deal that I was trying to purchase ended up going into bankruptcy by the seller. There were a lot of title issues and a state court-appointed deadline that had to be met. The deadline was missed by one day and so the seller, in order to avoid losing the property, filed a bankruptcy. I'm assuming a chapter 7 but I'm not sure.

It was a vacant non-owner occupied property that they had inherited from their father.

Nonetheless the trustee ordered the property to be sold at auction. The seller's attorney says that he submitted our contract to purchase the property but the trustee decided to go with hiring an auctioneer.

Although he's very well versed in tax foreclosure, my attorney is not familiar with bankruptcy. And I'm wondering at this point if I had an attorney who really knew bankruptcy, could he have fought harder for me to have purchased the property.

Does Anyone experienced in bankruptcy deals know if this is the case?

[Chris Seveney]

@Ibrahim Hughes

A BK trustee will always sell it at auction as they need to get the most value for asset (and they get paid by how much it sells for) so a BK will never sell it “off market”