I wrote an email (excerpt below) to a very nice lady whom I met with last week.
I wanted to outline some important points for you, as the next few weeks are critical for the successful sale of your property. You have worked very hard to avoid having the property go to auction, so hopefully, this will help you.
1. You need to have an official discharge of your bankruptcy before you sell your Los Angeles house.
2. Your projected Trustee Sale date is in 3 1/2 weeks.
3. Getting a loan pay-off when a property is in bankruptcy and also foreclosure can be VERY difficult and take quite a bit of time.
- It is VERY important that they know the law and the procedures.
5. If, for any reason, you decide not to sell your house, you have 5 business days to cancel after signing the agreement, to cancel, when you are in foreclosure. It's California law.
6. Verify that your buyer is the real deal. You need to see "Proof of Funds" and a non-refundable deposit. The buyer should give escrow a "Non-Refundable" deposit that is yours should the buyer not close on time.