What is the name of your state? Colorado, Gilpin County
After entering into a home purchase agreement--signed by owner/buyer/real estate agents with a closing date of June 1, 2006. On May 12th, my realtor informed me that the seller is in bankruptcy proceedings and we must now wait until the courts decide if I can even buy this home. I have $1000.00 in ernest money in escrow and movers booked (I must be out of my current home by June 2)! I've not heard a thing from anyone. What are the ususal proceedings in a case like this. The lawyer for the seller did tell my RE that there is enough equitity from the sale of his home to pay off creditors.
After entering into a home purchase agreement--signed by owner/buyer/real estate agents with a closing date of June 1, 2006. On May 12th, my realtor informed me that the seller is in bankruptcy proceedings and we must now wait until the courts decide if I can even buy this home. I have $1000.00 in ernest money in escrow and movers booked (I must be out of my current home by June 2)! I've not heard a thing from anyone. What are the ususal proceedings in a case like this. The lawyer for the seller did tell my RE that there is enough equitity from the sale of his home to pay off creditors.