You are right...they are suspicions. I will post back what happens. I am heading to the escrow office in a couple hours

Rondog, They might and they might not. Let us know what happens. Sounds like you have suspisions but no facts. People are hurting in this market. They're not doing this to be difficult they are scared and losing most of what they own. Best of luck.

http://www.dawnsellssandiego.com

First I wll state that I am not an attorney and I am not giving you legal advise.

You should be discussing this with your agent and/or broker.

If in fact they are filing bankruptcy, it most likely will halt the sale at least for a short time. I suggect you speak with a bankruptcy attorney ASAP, as it might be possible that if they completet the sale and then file shortly afterwards that it could cause some issues for the buyer. I am not tryting to scare you, but you need to make sure you are protected in the transaction. Your agent and/or broker should be advising you on this

In my understanding, a lot depends on how the seller files bankruptcy. It is highly likely that the home, being an asset of the seller, would be an asset of the bankruptcy and therefore nothing can be done with it without court order. There are exemptions for assets, buit I believe untilk the bankruptcy is completed, all assets are controlled by the trustee and the court. That does not mean it will take months to get it resolved, but I would expect at least a few weeks, maybe more.

I would reccomend you speak with an attorney, maybe both a real estate and bankruptcy attorney.

Sorry for the not so good news

Of course as Joan said, it could be somethig else with the attorney

Best of luck to you

Jay Gedanken
Broker Asociate, REALTOR
SELLSTATE
858-605-5839
jay@SaveYouCash.com

Don't assume the worst! Even if they file for bankruptcy, they can exclude the home and proceed with the short sale.

Your guess is as good as any. Never panic until you need to. See what the attorney says in the next couple of days. Maybe, they were updating their will and there visit had nothing to do with the short sale.

Good luck,
Let me know if I can help you in any way!


Joan Wilson (Realtor, SRES, Ecobroker)


California Cool 4 Sale
Prudential California Realty
Direct Phone: 760-757-3468
Fax: 760-946-7894
JoanWilson@prusd.com
License # 01341483

It is my Goal to Increase the Success and Profitability of Those I Serve

When someone files bankruptcy, the court issues an Order for Relief that includes an “automatic stay,” which demands that all creditors, including the mortgage lender, stop collection activity. The sale will probably end up in bankruptcy court. The bank will appoint a trustee to the case and will have to approve the sale.