Bankruptcy Court And Wholesaling
hey guys i just bought a property through a realtor and a properrty that was not listed on the mls and in bankruptcy. everything is going good on the deal and i ended up assigning the property for 30k. now the only problem that i am running into is that the listing agent says that there must be full disclosure in banruptcy and there may be a problem with that large of an assignment fee because they are saying the bankruptcy court might say that the agent did not try to get the highest price. is there any truth to this and is there any way around it?
All you should need to do is show this agent a copy of the paperwork you have, showing the property was released from the bankruptcy, giving the seller permission to sell it to you.
If however, the seller sold you the property while it was under the protection of the court and without the court’s permission, you may have a problem.
John (LV)