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 What happens if my house doesn't sell ?
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Bernice.hn
Starting Member



1 Posts

Posted - 22 October 2010 :  06:20:09  Show Profile  Visit Bernice.hn's Homepage  Reply with Quote
i have equity in my home of around 25000, what happens if the house does not sell, during my bankruptcy.

Blackie
forum expert



United Kingdom
565 Posts

Posted - 22 October 2010 :  08:17:39  Show Profile  Visit Blackie's Homepage  Reply with Quote
Hiya Bernice

If the Official Receiver can make money out of your house to help pay the creditors and defray his costs, he will make sure the house sells. He can keep an interest in the property for three years and if, after that, it has not sold, the ownership reverts back to you.

All the best.

John Blackadder
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