Got a letter from panel trustee

[JackBondLove]

NOTICE OF HEARING ON MOTION TO SELL PROPERTY OF THE ESTATE

NOTICE IS GIVEN that the Trustee *** has filed a Motion to Sell Property of the Estate to [ME] or any other person, including the debtor, who may offer in writing a higher price for the property prior to the deadline for objections.

<snip>

The Trustee proposes to sell all of the estate's right, title and interest in the following property:

[MY STUFF]

without any warranty or recourse whatsoever on the part of the Trustee, even as to the return of the purchase price, but with full subrogation to all rights and and actions of warranty against all preceding owners, vendors, or mortgagors. The sale is subject to all taxes, liens and encumbrances affecting the property.

<snip>

NOTICE IS FURTHER GIVEN that if an objection or other offers are received, there must be competitive bidding held in Open Court at the time of the hearing. Anyone wishing to bid must bid on all items in globo

I don't quite understand this. The trustee accepted my offer to buy back my stuff. It seems that he is allowing anyone who wants to pay more to take my property! If he was going to be doing this the whole time, I could have just offered less to get my stuff!

[frogger]

The trustee accepted your offer, so it's a done deal. This is nothing more than a formality.

Be patient and let the bk run its course.

There is a document trail for everything.......

[JackBondLove]

Right, but it sounds like someone could outbid me, and legally the trustee would have to take the offer.

I suppose that nobody ever outbids the debtor.

[HMT]

Your stuff is worth more to you then some "guy" out there looking for a good deal. To be honest, you have most likely offered more to buy back you own stuff than that "guy" would, no?

Unless we are talking about high priced collectibles and art... That would be a whole new ball game.