bankruptcy list 2009
If a short sale home that’s in bankruptcy court is listed, is the agent required to disclose that?
Made an offer on a short sale house in mid-July 2009, it was immediately accepted but we found out more than 30 days later that it was in BK (bankruptcy court) and then 30 days after that, the bank finally got the papers for approval and now the bank has asked for 30 more days before approval (120 days after offer accepted). There was no disclosure of the BK when we made our offer, is that a requirement that the agent sidestepped to get it on the market?
The seller’s agent may not have known that the seller was in BK. My experience is that sellers don’t always disclose that, because they are in denial or just want to protect whatever privacy or dignity they have left.
All the agent has to disclose is that it is a short sale, and you said they did so.
120 days is not an unusual time frame for a short sale, BK or not.
The two usually go hand in hand.
On the bright side – you probably are buying a house for a bargain price. Worth the wait, no?
Utah Bankruptcy Attorney Do I have to List All my Debt?
|
|
On the Brink: Inside the Race to Stop the Collapse of the Global Financial System $2.07 New Hardcover with dust jacket… |
|
|
Standard & Poor’s Fundamentals of Corporate Credit Analysis $29.53 An authoritative, in-depth guide to all aspects of credit analysis from the experts at Standard & Poor’s Credit analysis–gauging an issuer’s ability to repay interest and principal on a bond issue–plays an essential role in determining how bond issues are rated and priced. Fundamentals of Corporate Credit Analysis provides both analysts and investors with the practical, up-to-date information th… |
|
|
Too Big to Fail: The Hazards of Bank Bailouts $31.38 The potential failure of a large bank presents vexing questions for policy-makers. It poses significant risks to other financial institutions; to the financial system as a whole; and possibly to the economic and social order. Because of such fears; policymakers in many countries – developed and less developed, democratic and autocratic – respond by protecting bank creditors from all or some of the… |
