Bankruptcy Forum

will they try to sell my house ?

o1133
09-06-2004, 03:42 AM
I filed chapter 7 and i had 100k in my home. I owe 150, 00.00 in debt. My homestead leaves me with 75,000 and the
creditors with 75k. but my question is can the trustee sell a house that needs 60k in repairs to bring up to code so that any one can sell it or can the trustee sell it ass his even if there is up to seven building codes violations and the need to rebuilt up to code. Those the trustee have the money and the time to waste or will he give-up .

lazar
09-10-2004, 07:14 PM
Hi o1133,
debbie had the following answer for you:

I think it would depend on the exemptions allowed in your state. If you exceed the exemptions, then an appraisal would be ordered. During that appraisal, the appraiser would know the violations, hopefully if the repairs needed are real standouts. It will affect the appraisal and then the lower the appraisal the less likely the trustee would want to mess with it. I could be wrong but that is what I think at this time. Keep me posted.

debbie and good luck