- Family-owned in Beloit, WI
- Open daily, 9 AM to 9 PM
- BBB Accredited Business
You may be able to sell a house during bankruptcy, but it usually needs approval. Talk to your bankruptcy attorney before anything else. This is general information, not legal advice.
No obligation. A member of our local team will reach out to talk it through.
Rather talk it through? Call (608) 523-9807
Chapter 7 is a liquidation. A trustee looks at what you own and can sell property that isn’t protected by an exemption to pay creditors. Whether your house is at risk depends mostly on how much equity it has and how much of that equity an exemption covers.
Chapter 13 is a repayment plan, usually three to five years. You generally keep your property and pay creditors through the plan. If you want to sell the house during the plan, it has to fit within the plan’s rules.
Either way, filing triggers the automatic stay, which pauses most collection actions, including a foreclosure. If the case is dismissed, that protection usually ends.
Sales usually need the trustee’s or court’s approval.
Wisconsin’s homestead exemption, in section 815.20 of the Wisconsin Statutes, protects up to $75,000 of equity in the home you live in. Each spouse who owns the home can claim it. Federal bankruptcy law also has its own exemption list, and your attorney will help you choose. Which set you use, and how much equity you have, often decides whether the house is safe in a Chapter 7.
This is exactly the kind of question for your bankruptcy attorney. We’re buyers, not lawyers.
Sean’s Chapter 13 case was dismissed while he was behind on his Janesville house, and foreclosure was weeks away. We coordinated with the title company through the legal steps, he sold as-is, and he closed in 28 days. Read Sean’s story.
Family-owned and based in Beloit. Open daily, 9 AM to 9 PM.
Call (608) 523-9807 or fill out the short form. We will ask about the property, its condition and your timeline.
We usually present a no-obligation cash offer within 24 hours, based on the location, condition and recent nearby sales.
Close at a local title company in as little as 7 days, or on the date that works for you. We pay the closing costs.
We’ve put together the questions sellers ask us most. If yours isn’t listed, call us at (608) 523-9807 and we’ll answer it.
No. Tell your attorney and trustee first.
Yes, with the right approvals. In Chapter 13 that usually means a court motion or trustee approval. In Chapter 7 the trustee may handle the sale.
Usually, with court or trustee approval, and the sale has to fit your plan. Your attorney files the motion.
Filing triggers the automatic stay, which generally pauses foreclosure. If the case is dismissed, the foreclosure can resume.
Yes. We can sign a contract subject to approval and close once the order is entered.
Call SWP Home Buyers at (608) 523-9807 or tell us about your house online.
