How can we get out of land investment due to developer filing bankruptcy?
Want to see if anyone has any suggestions for ways to get out of a loan for mountain property as builder recently filed bankruptcy and land is worthless. Not as concerned about damages as getting out of the lot and the loan at this point.
The terms of your agreement will dictate your options. While it can be complicated, you may be able to solve it satisfactorily. I recommend seeking the services of a good real estate attorney. They will be able to provide the guidance you need.
Get a call into an attorney - the type of bankruptcy filed may dictate your options - http://hrmiller.com/ga-real-estate-law.asp
Call Scott - he is very experienced in this type of issue
Hank
Dari,
Are you represented by an agent? I recommend you speak with an attorney.
Best of luck, please advise if I can assist any further.
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