If a prospective lead got bankruptcy approved, can he still do a short sale?

By
Real Estate Agent with Coldwell Banker Dynasty

  A few days ago I was talking to a man who got his bankruptcy approved by the court and was wondering if he can do a short sale. I told him that as a real estate agent, I could not provide him with legal or financial advice and he should seek the answer from qualified specialists.

  Just curious if any agent comes across this scenario and what is the answer to this. I come across this about once every two weeks.

Comments (3)

Keisha Hosea- KASIHomes.com
KASI Homes - Chino Hills, CA
Real Estate Solutions For Real People

Song, I have closed short sales for a couple of clients who have had their bankruptcy approved. Once the bankruptcy was discharged then we pursued completing a short sale again. We were successful at getting the short sales approved and closed.

Jul 30, 2010 08:16 PM
Leslie Ebersole
Swanepoel T3 Group - Saint Charles, IL
I help brokers build businesses they love.

You should get an authorization for release of information signed by the client and contact his lender(s). The bankruptcy court is not authorized to order a lender to perform one way or another.

Jul 30, 2010 08:23 PM
MichelleCherie Carr Crowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

This is a question I've been asked many times, too.

Jul 30, 2010 08:25 PM