Client filed bankruptcy, Chapter 13. We obtained a Certified release from the Chapter 13 Trustee through the Bankruptcy Court. We are 6 months into the Short Sale and the client changed bankruptcy to Chapter 7. A new Trustee is handling the Chapter 7 and the new Trustee wants to assign a new Realtor of his choosing. The Seller was told a new Realtor will be contacting them. Any suggestions?
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My first reaction is to tell the trustee to shove something. It's not his call, that I'm aware of. Funny thing is, most trustees don't get paid a set fee by anyone. Here, they earn a % of net monies collected. Maybe he has another "revenue stream" from the agent he chooses. Of course, as always I'm probably way off base.
I believe your spot on. There is no reason for the new Trustee to stop the sale. Like you stated, the Trustee gets a % of monies recovered from the sale. And as we all know, there are no seller proceeds from a Short Sale. Our tax dollars at work...