Chapter 7 Bankruptcy and Short Sale Question

Asked by Shortsale654, Los Angeles County, CA Wed Oct 27, 2010

We are in a short sale where seller filed backruptcy before sale closed, now they are in chapter 7. They don't mind continuing with the short sale and it has been approved by the lender. The trustee says that he would release the property if the agent or escrow provide him with "documents that he needs to sign" what documents is he talking about? Our agent doesn't have experience with this and doesn't know what do send him.

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Abu Musa, Agent, New York, NY
Sun Aug 5, 2012
You may talk to an attorney . your agent and you will get help from attorney.
0 votes
Sang and Son…, Agent, Los Angeles CA 90069, CA
Tue Jun 19, 2012
Your agent needs to get help from his/her broker pronto. Or the agent needs to team up with another experienced agent. If you need a name of real estate attorney who specialize in bankruptsy please contact us at;

Good luck!
0 votes
Sara Mehrpou…, Agent, Los Angeles, CA
Fri Oct 29, 2010
I would think that the seller needs to talk to the bankruptcy attorney. The lender needs the property released from the bankruptcy to proceed with the short sale. Good luck.

Sara Mehrpouyan, CDPE
Specializing in Short Sale & Foreclosure, Los Angeles
Rodeo Realty
0 votes
Traci Bates, Agent, Los Angeles, CA
Wed Oct 27, 2010
I would ask your agent to contact the trustee to inquire about what specific documents he is requiring. If you have no luck there, then you can contact a bankruptcy attorney to inquire.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Wed Oct 27, 2010
Unfortunately Realtor's Code of Ethics prohibit one from advising clients who are already represented and involved in a transaction--consult with your agent and or his/her broker owner.
0 votes
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