Can I bid on my old house at trustee's sale

[reno2]

Hi everyone,it took almost a year but I was finally granted my discharge in February of this year. One of my old houses which I surrendered in the bankruptcy will be sold at the trustee's sale in June of this year. Is it possible for me to buy it back at auction or am I not allowed to participate in the sale proceedings?

[HHM]

Generally, the prior owner is not allowed to bid. But that is an issue with your state law and how the auctions are conducted.

On a side note, where would you get the funding with a discharged BK, generally, you need a minimum of 10% cash down at the auction and be able to fully fund within 30 days.

[reno2]

Funding isn't a problem,nor is ten percent down. Homes here in the Phoenix market have been selling for pennies on the dollar. Market value of the house is about $60k. Similar homes in the same area have sold for $15k at auction.