Bankruptcy doesn't eliminate your options — it adds a layer of court oversight. Jay Buys Houses works with bankruptcy trustees and attorneys in Long Beach regularly to complete court-approved home sales efficiently.
In Chapter 7, the bankruptcy trustee may choose to sell non-exempt real property to pay creditors. We work directly with the trustee's office, respond to their timeline, and complete the purchase quickly. You receive any exemption-protected proceeds.
In Chapter 13, you must file a motion to sell and obtain court approval before closing can occur. This typically takes 3–6 weeks. Once approved, we close immediately. We can move the purchase agreement quickly so you're ready the moment approval comes through.
Your net sale proceeds (after paying off the mortgage and closing costs) become part of the bankruptcy estate. The trustee distributes them according to your bankruptcy plan. California's homestead exemption may protect up to $626,400 of equity, depending on your situation.
Jay Buys Houses has experience working within the bankruptcy court process. We provide the signed purchase agreement your attorney needs to file the sale motion, respond promptly to trustee requests, and close the moment court approval is granted.
Chapter 7 trustee sales can close in as little as 10–14 days once the trustee engages us. Chapter 13 court-approved sales typically add 3–6 weeks for the motion to be approved. Once we have a signed purchase agreement, we're ready to close the moment legal clearance arrives.
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