“I need to sell my house fast in Detroit. What can I do?” Wise Property Buyers can purchase your home as-is and close the sale within days.
However, if you recently filed for bankruptcy, the process can hit a few snags. This guide answers the question, “How soon after Chapter 7 can I sell my house?”
Why You Can’t Sell Your Home During Chapter 7 Bankruptcy
Americans often file for Chapter 7 bankruptcy when they suffer financial hardships with no foreseeable solution. The move allows a trustee to liquidate certain assets in order to pay off debts. Selling during this time often requires trustee approval, though you can also claim your home as exempt property.
It usually takes up to six months to receive a bankruptcy discharge. Until this happens, the court will have temporary control over your assets, including your house, which prohibits you from selling.
Act Once Your Bankruptcy Case Settles
So, how soon after Chapter 7 can you sell your house? It partially depends on when you receive your bankruptcy discharge. This document marks the start of your financial recovery and outlines all of the debts that you’re no longer responsible for.
Receiving the discharge notice signifies progress, but it doesn’t necessarily mean the case is settled. Your trustee must officially close the case before you can regain control of your home and other assets. Every case is different, but the process typically ends three to six months after your initial filing.
What Happens When You’re Able To Sell?
Going through Chapter 7 bankruptcy can complicate the selling process. Once your case settles, make selling your home a breeze by partnering with a cash buyer. It’s much easier to choose a quick, as-is sale than to stick with the conventional process.
By opting for a quick sale, you’ll enjoy the following benefits:
- A guaranteed cash offer: Home-buying companies like Wise Property Buyers always provide fair cash offers to interested sellers.
- No agent fees: Avoid using a real estate agent, and you won’t have to worry about commission fees. Keep more of the proceeds when you partner with a trusted quick sale company.
- Fewer contingencies: Your sale won’t fall through due to inspection results or other issues. Cash buyers agree to buy homes as-is.
- Convenient closing: No more waiting months for a sale to go through. Finalize the transaction within days of accepting the offer.
Sell Your Home to Wise Property Buyers for a Stress-Free Sale
After reading this guide, you no longer have to wonder, “How soon after Chapter 7 can I sell my house?” Putting your home on the market has plenty of challenges, let alone selling in bankruptcy. Skip the obstacles of a traditional sale and let Wise Property Buyers purchase your house as-is.
Our team has years of experience and provides fair, cash offers to homeowners throughout the Detroit area. Connect with us online or call (313) 513-8824 to receive a cash offer today.