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Please could you tell me what the process is with bankruptcy

 

Customer Question

Please could you tell me what the process is with bankruptcy in terms of your property. When you file for bankruptcy is someone assigned to selling your house or can you do that yourself

Im wondering whether the person who takes over the bankruptcy would sell the house at market value or it would go as a fire sale?

 

Optional Information:
State/Country relating to question: United Kingdom

Submitted: 369 days and 23 hours ago.
Category: UK Bankruptcy Law
Value: £17.88
Status: CLOSED

Accepted Answer

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Expert:  UK-Justice replied 369 days and 23 hours ago.

Thanks for your question. Please remember to click ACCEPT once you get my answer.

The OR has a duty to get the best price - so it is likely to be sold at market value.

They want to get as much money as possible.

Please remember to click accept so that I am credited for my time. Thank you.

Expert TypeBarrister
Category: UK Bankruptcy Law
Pos. Feedback: 96.4 %
Accepts: 178
Answered: 4/10/2012

Experience: Called to the Bar in 2007

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