Can you sell a house in bankruptcy? If you’re navigating this difficult situation and looking to start a new chapter in life, contact Professional Home Buyers.
Chapter 13 Bankruptcy can protect your home, but some people benefit from finding a new place to live. Whether you have low home equity or need a fast solution, we buy houses as-is for cash.
The Challenges of Selling a Home During Chapter 13 Bankruptcy
You can sell a home during bankruptcy, but it’s a more complicated process with some contingencies. Technically, the home is part of the estate managed by your bankruptcy trustee. You’ll need court approval to complete the sale.
You will have to notify the creditors so they can determine how it affects your repayment plan. They’ll require the following information:
- The sale price of the home
- An appraisal showing the home’s value
- Details of the sale’s disbursal to creditors
If the trustee, creditors, or other party with a vested interest in your asset liquidation has concerns to any point, they can object to the sale. Once the court approves the Statement of Sale, you can set a closing date.
How Selling Your Home for Cash Could Help
Can you sell a house in bankruptcy? Sometimes, it’s the best option and can help settle your outstanding debts. Consider the benefits of finding a reputable cash buyer.
You Won’t Struggle To Find a Buyer
You won’t find many traditional buyers who will consider purchasing a home in bankruptcy. They won’t want to deal with the delayed process or the risk that a creditor may prohibit the sale. However, certain cash-buying companies specialize in these situations and won’t hesitate to offer a solution.
The Cash Process Takes Less Time
Without bankruptcy issues, a cash buyer can often close the sale in seven to 10 days. The court proceedings can slow this down significantly, but it’s still faster than finding a traditional offer, which has a higher likelihood of falling through because it can’t pay back your creditors. The right cash buyer can devise a fast solution.
You Obtain a New Foundation for Your Life
While most or all of the sale of your home will go toward paying your debts, sometimes you have money left over. When you find a buyer who makes a fair cash offer and acts like a partner, you give yourself a chance at having a little extra. This can help set you up for success in the next phase of your life.
Obtain a Fair Offer From Professional Home Buyers
When you’re searching, “Can you sell a house in bankruptcy?” reach out to Professional Home Buyers. Whether you have business debts and need a solution for Chapter 7 bankruptcy or have a home in disrepair, we excel at finding the right solution for you.
We’ve purchased difficult homes for over 20 years and have helped hundreds of homeowners find financial security. Read our reviews to discover why people like you trust us to treat them fairly and professionally.
Start the process by calling (316) 202-1628.