High market value house in chapter 7 bankruptcy
Hello people I am about to close a swell deal there are a few problems though. 1 the house is in chapter 7 bankruptcy, the investor I am trying to flip it to doesn't want my option contract he wants me sign a purchase agreement with the owner and last not least he wants to pay me the money for the assigned contract at closing. How should I handle this in a way that gurantees that I get my portion for the assigned contract and the homeowners get the portion they were promised after the house is sold.
And how would I do that at closing.
Bigdredd,
My first question is has the Bankruptcy Trustee approved this transaction?
[addsig]
I don't know how. How do I explain to the bankruptcy trustee that I would like to sell the house and I am going to assign this contract to a another investor.