4 Beds   2 Baths   1,413 Sq. Ft.
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Bloomington Ave
Minneapolis, MN 55425

Status: Inactive
Listing ID: 57132753

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Bankruptcy

Real estate is often a very valuable asset that a local court can take control of and sell through a bankruptcy procedure. This bankruptcy listing in Minneapolis, MN is among more than 1 million records featured in our comprehensive nationwide real estate database. However, unlike most property records, not all homes / addresses associated with a bankruptcy filing are for sale. This is an important legal concept to understand before moving forward on Bloomington Ave Minneapolis, MN. We highly recommend that you first contact the court-appointed receiver / trustee listed below (scroll down) under "Bankruptcy Information" to learn whether or not the property is (or will soon be) for sale.

What is a bankruptcy estate?

A property owner who is experiencing difficult financial issues will sometimes file for bankruptcy as a last resort. This is a legal proceeding (usually called Chapter 7 bankruptcy), during which a court-appointed receiver / trustee will be assigned to determine all the assets of a distressed property owner. More often than not, a home or property is one of the most valuable assets that the court-appointed receiver / trustee will leverage to satisfy the distressed property owner’s outstanding debts. The contents of the home, as well as any other assets (e.g. cars, boats, etc.), are also often included in a bankruptcy estate. The court-appointed receiver / trustee is almost always motivated to sell a property included in a bankruptcy filing very fast -- there is no real attachment to it other than to obtain funds to pay off debts. And the savings for a savvy buyer and/or investor looking to buy bankruptcy houses for sale in Minneapolis, MN can be tremendous.

First Steps to Buying a Bankruptcy

In order to purchase a bankruptcy property, you will need to approach the court appointed receiver / trustee to pursue your deal.

Contact the bankruptcy trustee to find out if the property is for sale as part of the bankruptcy.  If so, request the terms for the sale of the property as well as any additional information regarding the condition of the property. This will help you understand the type of investment your are getting into.

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Minneapolis, MN
Home Inspectors
LEAF Building Services
Adam Anderson
612-221-3450
Structure Tech Home Inspections
DJ Starzec
952-915-6466
Devine Inspections
Todd A Devine
612-978-1650
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John S. McGrath
612-381-0023
Minnesota Home Inspectors LLC
Kenneth Rowe
651-489-4633
Homes On This Street
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Bloomington Ave
Minneapolis, MN 55425

4 Beds   2 Baths   1,413 sq. ft.

 

Status: Inactive Listing ID: 57132753

Property Information

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Public Records

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Property Description

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Listing URL

https://static.foreclosure.com/listing/address.html?address=Bloomington-Ave-Minneapolis-MN-55425/57132753_lid

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