Short Sale In California- Property In BK Ch 11
Hello. I met with an owner who has a house that is in default (4 months). He declared ch11 BK. Can I still execute short sale? The property is in California.
Please help.
Sincerely,
Alexander.
You can but you will need the Judges authorization if there are any other bills attached to the chapter 11. You may want to get a lawyer to do the filing, or use the sellers lawyer to find out what is all attached. But ultimately it will be up to the Judge once you and the lien holder/s come to an agreement. More paperwork, but it makes the bank more agreeable to end the problem as it could last 2 years.
Good Luck,
Kyle