Bankruptcy Issue

[Hollis Roberts]

Hi my wife and I are purchasing a multifamily property in Waterbury, Ct.  The property is a 4 family home with a purchase price of $123K and owner covers closing costs.  We did the inspection already and now was notified that the bankruptcy is and issue. 

The bankruptcy was filed 11/22/14 and discharge 2/26/15.  I would like to know what options do I have to purchase this property? Or atleast hold it until after February 2016 to purchase?

I was considering a Lease Option agreement...would that be a good idea?

If anyone needs more information please let me know.  I'm a little lost here.

[Wayne Brooks]

Sounds like this was your BK? If so, it being an issue shouldn't be a surprise. Usually, 2-4 years from discharge depending on whether you're trying FHA, conventional, and sometimes the circumstances that led to the BK. Your lender can answer these questions, but getting a loan next year seems unlikely.