Belt Auction

Having problems dealing with a bankruptcy truste in purchasing a home back...?

she agreed on a price and entereted a order with the court to sell us the home for that amount it took us longer then she wanted to close on the home but now we have the money but she refuses to close now saying she will just auction it off... any ideas on how to stop her and get her to honor her agreement.... there was no time frame on the order and the truste was the one that entered it. and the truste will not talk to us at all and she's is insisting on having a auction and selling the house the time frame was somithing she set herself that wasn't realstic but it was NO PART of the order it just states she is selling the house back to us...for a set price...

Public Comments

1. ask a real estate lawyer
2. Yes talk to the judge that signed the order
3. Dear carman, The bankruptcy trustee is not your friend. The fees they earn are predicated upon the extra fees they can earn in situations such as the one you face. In this manner, they are independent business agents without legal duty or obligation to you. I will assume that the Court Order limited the mount of time you had to obtain your refinancing. And that time expired without you or your Attorney filing a motion before the Court to seek an extension of time with respect to your order. Your attorney wins no points for conduct but I do not know enough of circumstances to say it was malpractice Try going back into Court to obtain judicial relief. At the same time continue negotiations with the Trustee and introduce a financial incentive to make it worth their while. Get an extension of loan commitment to attend the foreclosure and you might even make a better and lower price. It is my hunch, and I hope I am wrong, that an individual related to the Trustee like a member of Trustee's law firm or distant family member, sees a potential financial advantage to purchasing this property. This is not against the law nor a violation of ethical duties. The Trustee has an obligation to obtain the highest property value in a limited period of time. YOU LIKELY EXCEEDED THIS TIME. If you did not exceed this time you will walk into Court and easily obtain a favorable decision. This is no time to give up. Move forward on all three levels. Best Wishes......