Questions about real estate and bankruptcy? Find out more!
Questioner
I have heard that the seller of a house I am negotiating with is not doing well financially. Now I am concerned that the seller may go bankrupt or sell the house to someone else for a higher price. What can I do to prevent this?Lawyer
As long as you have not yet concluded a purchase agreement, the buyer is free to sell the house to you or not. You can try to agree on exclusivity in the negotiations (the seller may not negotiate with someone else at the same time). Bankruptcy does not have to stand in the way of a sale - the trustee will, if you agree on a fair price, actually be happy with the private sale. That always yields more than a foreclosure auction and the trustee always likes that.Neem de volgende stap
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