Need help with bankruptcy and loan

Mick2014

Hello my name is Mick and I am new to the forum. Recently our father died and unfortunately his company went bankrupt and the property including the house is in the hands of the bankruptcy people. My brother and I have been offered first refusal on the land at £120,000 and at the same time we have been approached by two separate buyers offering us £230,000. The problem is that neither myself or my brother have much savings or well paid jobs and for the last 5 months I have been off work due to an operation. We have both had a tough year with everything that has happened and it would be nice to finally get something out of all the stress.
What advice could anyone give us about getting a loan or who to see about advice?
Thanks Mick

BrassicWoman

Your post is a little vague.


What land? Do you mean the house or is there seperate land?



Why are buyers aproaching you and not the bankruptcy administrator?


Generally, no job = no income stream = no loan, so I might be inclined to just sit tight and see what falls out.

Mick2014

Sorry if it is a little vague. It is a house with a large amount of land. They are approaching us because as far as they know it belongs to us. I do have a job but currently not working but will be again soon.

BrassicWoman

The liquidator is duty bound to get the best price, on behalf of the creditors, for all property.


If they think it is worth £120k, but the market rate is £230k, then something very fishy is going on.