Wholesaling a bankruptcy??

[Quentin Jivery]

Any advice on how to correctly proceed with a bankruptcy wholesale? 

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Quote from @Quentin Jivery:

Any advice on how to correctly proceed with a bankruptcy wholesale? 

 Anytime a property is in bankruptcy, the judge has to approve the transaction. It takes a bankruptcy attorney to do this correctly and of course the trustee can object unless they get paid their portion. The lender also has to agree. 

It's complicated, but it can be done if you are a licensed realtor. I am unaware of an unlicensed individual (wholesaler) being approved by the court, but somewhere someone has probably succeeded. The court will be watching for "equity stripping", that is, selling for below fair market value which usually is established by a broker or appraiser.