Your attorney and the trustee drive this
When a bankruptcy is filed, the house generally becomes part of the bankruptcy estate, and a trustee is appointed. Selling estate property usually requires the trustee's involvement and often court approval.
So the first call is your bankruptcy attorney, and the second is also your bankruptcy attorney. We are a buyer. We do not advise on the bankruptcy, we do not talk to your trustee on your behalf, and we would be suspicious of any buyer who offered to.
Chapter 7 and Chapter 13 are different situations
The two chapters put a house in quite different positions, and general advice about "selling in bankruptcy" is close to useless without knowing which one applies.
We are not going to summarize bankruptcy law on a page selling houses. Your attorney will tell you where your particular filing leaves the property, what exemptions apply, and whether a sale helps or hurts the plan. Ask that question specifically, because the answer determines whether the rest of this page is relevant to you at all.
The Selden market underneath this
The median is up 9.86% year over year as of 2026-10. A firming market gives you a little room for error on price, which is worth more than it sounds when the house is not in showable condition. At a $637,173 median, Selden is a market where buyers expect to do some work. That helps a seller with a dated house and hurts one with a genuinely broken one, because the pool that will take on a project is not the same pool that will take on a gut. The median house here goes under contract in about 23 days, which is quick for Long Island. It is also a figure that only applies to property in showable condition.
A four-bedroom on Corvette Road. In Selden, bought and paid for by us.
What we can offer that a financed buyer cannot
The other thing that matters here is certainty of closing. A trustee and a court are being asked to approve a specific transaction, and a buyer who might not complete is a real problem in a way it is not on an ordinary sale.
Proof of funds, a written number that does not move, and no lender conditions are worth more in this situation than in almost any other. Ask us for the proof of funds early, because your attorney will want it.
The condition of the Selden house does not matter to us
A house going through a bankruptcy has frequently had maintenance deferred for a while, for obvious reasons. Nobody funds a roof while a filing is pending.
That does not change anything for us. We buy as it stands, we do not ask for repairs, and we do not use an inspection to reopen the price later. The condition is priced once and the number goes to your attorney as a figure that will hold.
What you do not pay when you sell a house in bankruptcy
Each of the following comes with a retail listing of a house in bankruptcy, and none of it comes with ours.
- Agent commission
- $31,859 at 5% of the Selden median none
- Seller closing costs
- About $12,743 on a $637,173 sale. We can cover these. none
- Repairs to make it listable
- Whatever it takes to make it listable, paid in advance none
- Cleanout and removal
- Per truckload, before anyone views it none
- Carrying costs while it waits
- Taxes, insurance and utilities across the 68 to 83 days it takes to find a buyer and then wait on their lender none
The paperwork that moves a Selden bankruptcy sale along
The fastest bankruptcy sales are the ones where the paperwork is ready before anybody asks for it. Get a written payoff figure from your mortgage servicer, find the latest tax bill, and ask us for a written offer and proof of funds.
None of that commits you to selling. It gives your attorney real numbers instead of estimates, and in a process where the trustee and sometimes the court have to approve the sale, real numbers save weeks.
How selling a house in bankruptcy in Selden works
- 1
You give us the address
The street address in 11784 and a sentence or two about the condition, by phone or the form. No photos needed, and nothing has to be cleaned or repaired first.
- 2
A quick look in person
We visit once and it rarely takes more than half an hour. On the ranch or hi-ranch houses that make up most of Selden, we check the roof, the boiler and the electric before anything cosmetic.
- 3
A written offer within 24 hours
One figure, in writing, inside 24 hours. Not a range. Show it to a Suffolk County agent if you want a second view; if the house is already in good enough shape to list, an agent may get you more, and we will say so.
- 4
You pick the closing date
Fast if you need fast, or months out if you are waiting on probate, a tenant, or somewhere to move to. Either way you skip the 68 to 83 days a listed Selden house spends finding a buyer and then waiting on that buyer's mortgage.
If a foreclosure was already under way
Many people file for bankruptcy with the mortgage already behind, and some file with a foreclosure already started. The filing can change where that foreclosure stands, and your attorney will tell you exactly where yours is.
What matters for a sale is that the arrears, the mortgage and any fees all come off the proceeds at closing, like any other payoff. If there is equity in a Selden house, a sale approved inside the bankruptcy can protect more of it than letting a foreclosure finish.
Common questions
Can I sell my house while in bankruptcy?
In many cases, yes. The house normally becomes part of the bankruptcy estate when you file, so the trustee has a say and the court often has to approve the sale. That makes your attorney the first call, before any buyer, including us.
Do you deal with the trustee for me?
No. Your attorney deals with the trustee and the court, and that is how it should be. We give your attorney the offer, the proof of funds and anything else they ask for, and we work to the date the court sets.
Will you wait for court approval?
Yes, and it does not cost us anything to do so. Waiting is a problem for buyers whose mortgage approval can expire; we have no mortgage approval to lose.
Does the condition of the house matter?
No. Deferred maintenance is normal in this situation. We buy as it stands and we do not revisit the number afterward, which matters more than usual when a court has already approved a specific figure.