Short Sale & Bankruptcy (NJ)?
I’m trying to work short sales with a homeowner that recently went bankrupt chapter 7. In NJ
the Trustee takes control of the property after the bankruptcy. Last week the trustee, the homeowner and the
other creditors had a meeting and the trustee released the property. I was told that I can now proceed with the
short sale.
Question: Since the homeowner went bankrupt and the trustee released the property who’s property is it?
I had originally contracted with the homeowner. In the eyes of the bank am I still buying the
property from the homeowner?
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