What is the name of your state? Kentucky
I am supposed to close on a home next week but it looks like I probably won't. I just found out that the sellers are in Chapter 13 and they have to get approval from a judge on the sale. Needless to say I am upset since I have paid earnest money, paid for an inspection and an appraisal and then find out that they have to get a judge's approval on the sale. My agent says the sellers legally didn't have to tell us about the bankruptcy but it seems at the very least, unethical not to mention it. There's no mention of a judge's approval in any of the papers I signed when the offer was made. So my closing is next week, should I at least get my earnest money back if they don't have approval from the bankruptcy court?
I am supposed to close on a home next week but it looks like I probably won't. I just found out that the sellers are in Chapter 13 and they have to get approval from a judge on the sale. Needless to say I am upset since I have paid earnest money, paid for an inspection and an appraisal and then find out that they have to get a judge's approval on the sale. My agent says the sellers legally didn't have to tell us about the bankruptcy but it seems at the very least, unethical not to mention it. There's no mention of a judge's approval in any of the papers I signed when the offer was made. So my closing is next week, should I at least get my earnest money back if they don't have approval from the bankruptcy court?