Legal Question in Real Estate Law in Virginia

Short Sale House under Trustees Sale

Received an approval letter for a short sale offer. We then fixed a closing date, but one of the sellers filed a bankruptcy the day we were suppose to close. Although, the house was not included and the property subsequently, abandoned by both the Court and the Trustee, so that we could continue the sale. Can we just go ahead and close on the house, or will need a new approval letter from the Lender?


Asked on 4/06/12, 10:26 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

There would seem to be enough legal issues either overtly or subliminally

lurking in your question that you would be well advised (in my opinion) to have the entire matter reviewed by an attorney experienced in bankruptcy as well as real property law matters before you attempt to proceed any further with it.

(I can assure you that however this property may have been dealt with by the bankruptcy trustee, it was not "abandoned" either by this trustee nor the court.)

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Answered on 4/07/12, 9:02 am


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