Legal Question in Bankruptcy in Florida

I have a bid on a short sale in Florida pay cash, I have found out the owner filed for bankruptcy last month. The house is not their primary residency. How will this effect our bid????


Asked on 4/12/11, 4:03 pm

1 Answer from Attorneys
Sanford M. Martin Sanford M. Martin, P.A.

If your bid is a typical short sale offer, the owner's filing of bankruptcy will likely have no effect on your bid. If the owner is filing a chapter 7 bankruptcy which recognizes the short sale as disposition of his homestead, it may facilitate the transaction if handled properly.

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Answered on 4/12/11, 4:53 pm


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