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Foreclosures

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Josh Kindlesparker
  • Real Estate Broker
  • Anderson, IN
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Preforeclosure "subject to" and Bankruptcy

Josh Kindlesparker
  • Real Estate Broker
  • Anderson, IN
Posted Apr 9 2012, 12:16

If I buy a property "subject to" from a seller in Preforeclosure. I make up the back payment of $7500. What if the seller then files Bankruptcy? What protects me, if anything, from loosing the property and cash?

Is there any way to protect myself. I plan on selling the property with a lease option. I do not want to loose my money or my buyers money.

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