I am interested in purchasing a home that is "subject to bankruptcy approval." What does this mean?And how long does it take to go through

Asked by Kristin, Connecticut Sat May 7, 2011

the process

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Julie Traver…, Agent, Southbury, CT
Sun May 8, 2011
Hi Kristin, you will always need to put that in the terms of the contract. Have you seen the house? I would love to try to assist you with the entire process if you already do not have an agent. Please feel free to contact me. Julie Lucia, Realtor Showcase Realty, 203-578-5631 or julie@julierealestate.com
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Krisanne Riv…, , Connecticut
Sat May 7, 2011
The seller of the home is in bankruptcy court for bankruptcy protection, the court controls all their assets. The court must approve the sale because they are acting on behalf of the seller's creditors to make sure the creditors all get paid including the original mortgage lender. I am not sure how long it would take to go through.
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