Answers
In Delaware am I still obligated to keep the house on the market if I am filing for bankruptcy?
My house is still on the market, and I have a forclosure date of November 2, 2006. In order not to give away my house, I am going to file for Chapter 13. I signed a six month contract to sell the house with the realtor, If I file for Chapter 13 am I still obligated to keep this contract?
Best Answer:
Once you file you need to withdraw the listing. The house becomes one of your assets and you will have to have court approval to sell it. You will not be able to get that till you make your initial court appearance.
Answers:
According to my partner, who is a Delaware Realtor, you can break your contract at any time. You just have to give them notice.
In your best interest, it's better to continue to try and sell it before filing Chapter 13. You'll have less debt if it sells. I don't know what your market is like there, but if you want a quick sale, you should consider pricing your property 15-20% below current market.