What can we do if the seller has filed for Chapter 11? 2 Answers as of August 22, 2010

My husband and I are acquiring a short sale property and the bank approved the sale price. However, the seller filed Chapter 11 bankruptcy. What options do we have?

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Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
Not much at this point. The seller cannot sell without court permission. So, it will be up to the seller if he still wants to sell. If not, then you will have to see if the bank wants to file for court permission to still sell you the house.
Answer Applies to: California
Replied: 8/22/2010
The Doan Law Firm
The Doan Law Firm | Shawn Doan
You would need to seek a court order authorizing and approving the sale through the bankruptcy court. You will most likely need to hire a well versed bankruptcy attorney for this motion.
Answer Applies to: California
Replied: 8/20/2010
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