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Expert Realtor Agent Can Help Sell your House In Bankruptcy
July 10th, 2010 by admin
You are allowed to sell your home while you are in a Chapter 13 bankruptcy. Be sure to contact your attorney and let him know what you want to do. You will be required to submit a signed Contract of Sale. Your bankruptcy attorney will then file a Motion to Sell with the court and put all creditors and the Trustee on notice. Your Motion to Sell must specify the sale price, the value of the property (with some proof of value), and what your proposal is for the proceeds of the sale. Typically, you list the mortgage payoff amounts and all closing costs, including the expert realtor agent and legal fees. Usually a separate motion is necessary to allow payments to the realtor and closing attorney. You MUST get an order from the bankruptcy court approving the sale and its terms BEFORE you can close on the property.