Bankruptcies & forclosures??? Answers!!?

Question

How do you go about buying a bankrupt property??? Like the people still live in it, but they have filed and the house is listed on a bankrupt website. So how exactly do you do that?

With foreclosures I know it takes soo long to go into and be ready to sell. But can you buy a pre=forclosure home?

Anyone that knows ANYTHING about this please answer!!! Thanks!!!

Answer 1

you would have to know if it was a chapter 7 and there was no reafirmation agreement with the lender to keep the home. If not contact the lender directly to place an offer

Answer 2

Contac the bankruptcy court either by calling or through their web site, which are usually searchable by name, and look for the name, address and phone number of the Trustee.  The Trustee is in charge of gathering the assets of the debtors and may be the one selling the home, or it may be the bank holding the mortgage.  Either way, the trustee can point you in the right direction.

Answer 3

Have no idea what you are talking about as it relates to "bankrupt properites", they are called foreclosures.  Due to the length of time between default and the end of the redeption period, it can be as long a 1 year.  Most foreclosed properties are listed after the redemption period. Just find yourself a Realtor knowledgeable on these types of properites. As for Pre-forclosures, these are typically called "short sales". Sometime the owner still lives in them.  Again you need a good Realtor to help guide you through this type of transaction.