Wholesaling a 3 unit Bankruptcy in Scranton. 1500 income for 50k. But....federal Bankrupcy court?

[Savannah Leigh]

Wholesaling it, I don't know how to account for/explain/justify the Bkruptcy court timeline. Heck, since I can't do a contingent offer (20% deposit, non refundable) I'm not even sure how to write the deal. That's my question.

Seller (bankruptcy lawyer) needs 20% down, MIGHT go 10

tells me it's no contingencies, pending only the approval of bankrupcy judge.

Might take up to 60+ days to get on judge's calendar.

Means we really need an end buyer in here FAST. and someone willing to wait.

How do i explain "hurry up and wait" to an end buyer?

Are there alternatives I can press the seller to accept?

Here's the deal:

I have a GREAT property under contract. Scranton, PA. One of the best neighborhoods. 3 blocks from University. 1 block from 2 Hospitals, nice condition, solid, long term tenants, OK prior maintenance. New windows, updated electric, water heaters, etc. Overall a great deal for 50.

2 one bedrooms (one floor each, both first floor, great for semi-handicapped/elderly) and one 3 bedroom. Possible 4th floor for additional unit or make 2nd floor unit HUGE. Would be awesome for college rental.

basement has 12' ceilings. 3 gas meters w mounts for a 4th. 3 electric meters. Only 1 gas device in the building besides water heaters.

assessed for 300. Easy sale at 100 to a live-in end buyer even as is. could rent the rooms for 400/each to college kids.

Heck, to start my relationship with this firm, I'd wholesale it for pennies. Maybe just a couple grand. I'm not greedy. Just confused.