Bankruptcy - Mortgage paid off, Debt is less than Offer

[Kelly Beck]

Does anyone have experience purchasing a property where the mortgage is paid off and the seller is going through bankruptcy, needing to sell the house to pay off the debt? This is in North Carolina.

The seller wants to sell now before the trustee sells so she can get something out of it herself. The debt is less than what we'd be paying for it. I talked with the bankruptcy attorney and the debt owed is $75K. Right now WA is $140K but we're hoping to get it down after the inspection. ARV is $287K.

I know our offer has to be approved by the court, but does the trustee still try to get as much as possible out of the house, even though the WA is almost 2x what the debt is? And if so, does the seller get that money above and beyond the debt? Or does someone else? 

Is it typical for this to be approved since we're offering more than what the debt owed is? We have no idea what might be involved in getting the sale approved so we're looking for anyone with any experience with this.

Thanks so much.