Bankruptcy Sales...

[REI-NY]

Hi

I was reading something where bankruptcy sales yesterday, does anyone do these type of sells, also would this be the same as a trustee sales does anyone do these as well. You comments are appreciated thanks

Michelle

[Dan Auito]

I have not done this type of deal as of yet Michelle, would be interested in hearing from those who have as well! :SM006:

[Just Information]

Are we talking a sale of real estate directed by the bankruptcy trustee / referee or an individual selling real estate during there bankruptcy petition.

[REI-NY]

Bankrupcy trustee, dealing with a thrid party who would handle the details of selling these types of property like at http://www.nabt.com/index.cfm or here http://www.bankruptcysales.com

thanks

M

[Dan Auito]

Bankrupcy trustee, dealing with a thrid party who would handle the details of selling these types of property like at http://www.nabt.com/index.cfm or here http://www.bankruptcysales.com

thanks

M
Michelle, from the looks of things it appears the trustee that posts the property would be handling the sale, probably in conjunction with a real estate attorney to file the paperwork. The site seems to give you the information required to bid on line but as John Michaels says (me too) you MUST do your homework and check for liens, judgements, assessments, ownership blah blah blah not to mention a physical inspection beforehand for condition, location, hazardous materials, etc...

[Just Information]

Bankruptcy sales can be somewhat complicated and is dependent if it is an actual asset that was seized by the courts or the debtor was ordered to sale by the courts.

You should investigate the subject properties title and inspect the subject properly thoroughly to avoid and problems.

[REI-NY]

Thanks Dan & John,

I don't have any plans of doing these type of deals I just wanted to see if anyone had any experience with it to get a idea of what it entails thanks again

M