Any real estate gurus out there

[Don M. 14]

I own several rental properties, but I have another oppurtunity in front of me.

I have a chance to buy a house 50k below market value. The deal is the homeowner just filed chapter 13. Am I going to have to go through the courts or anything to get this approved, or can I just write up the sales contract and do the title search?

Thanks

[Adrian 155]

Philip Doolittle is in this field as well. He may be able to help you.

[Jack Kramer 15]

Don,

If the person has filed chapter 13 bankruptcy the home is included in the bankruptcy. If they find a buyer for the house and the sales amount will cover all mortgages, tax liens, back taxes, liens; the court can be partitioned to release the house from bankruptcy.

Good luck! Sounds like a good deal.