Possibly, but selling a house during or after bankruptcy can involve additional legal requirements. Whether you can sell the property, and who must approve the sale, depends on the type and status of the bankruptcy and whether the property is part of the bankruptcy estate.
Homeowners should not assume that they can sell the property normally simply because they own it. A bankruptcy attorney or trustee may need to be involved, particularly if the bankruptcy case is active or the property has not been excluded from the bankruptcy estate.
A cash buyer can still potentially purchase a property involved in a bankruptcy situation, but the transaction must be structured correctly. The title company and relevant legal professionals need to know about the bankruptcy so that the sale does not create problems with the court, creditors, or title.
At Core Properties, we understand that bankruptcy can make an already difficult property situation more complicated. We can review the property with you and, when appropriate, work alongside the professionals handling your case so you understand whether a cash sale may be possible.
