Buying Vacant House Included in BK7 from Bank?

Buying Vacant House Included in BK7 from Bank?

Help!!!!!!!!!!!!!
I have found a house that has been included in Bankruptcy & has been vacant since Feb. 2009. It has not been advertised as a foreclosure or listed with a Realtor yet as most houses are in my area once they are foreclosed. What I am trying to accomplish is figure out an approach & way to purchase the property direct from the Bank without it going thru foreclosure or being listed with a Realtor. I have tracked down the previous Owners & have their co-operation if some form of Deed-in-lieu &/or Short Sale may work. When I contacted the Bank with a signed Authorization to Release from both Owners, as usual, the Bank asked for all the usual docs from the Owner for a Short Sale. My concern is that if I tell them prematurely that it was included in BK7 they will tell me that they don’t sell without using a Realtor. In addition, my wife is a Realtor & I even thought about suggesting to the Bank that my wife has a cash Buyer & could list the property if necessary. I need some good advice & a creative idea/ solution to avoid muddying the water so to speak & not to pay more than necessary.
Your advice & help in the situation is & will remain greatly appreciated.
Thanks,

Mr. Win/Win
goldenruleenterprises@

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BK7

Hi there:

It's my limited understanding cause I've only read about it more than I have actually done it, that the bank isn't in much control over the property without permission from the court which has to release it for even the bank. That's why the bank doesn't want people to file bankruptcy because it holds up the property in court. The bank has to ask for it to be released through the process. So, the negotiations needs to include the bankruptcy representative handling it for the court.

In other words, it's in the court's court Smiling

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Be The Colors of the Past
Yet Live for the Present; and,
Strive for Tomorrow, Today!

Regards,
Anita
**Dedicated to building Residual Income
providing Money-for-Life literally. I watch it
grow & know I can pass it on to my future generations...

Bk7

Oh yeah,

Kudos for your resourcefulness. Bankruptcy court is a great place to find properties!

__________________

Be The Colors of the Past
Yet Live for the Present; and,
Strive for Tomorrow, Today!

Regards,
Anita
**Dedicated to building Residual Income
providing Money-for-Life literally. I watch it
grow & know I can pass it on to my future generations...