Sell Your Bankruptcy House Fast in New York

New York has four federal bankruptcy districts: the Southern District of New York (Manhattan and White Plains — one of the most prominent bankruptcy courts in the world for large commercial cases), the Eastern District of New York (Brooklyn and Central Islip on Long Island), the Northern District of New York (Albany and Utica), and the Western District of New York (Buffalo and Rochester) — with the SDNY and EDNY together handling the vast majority of New York's consumer bankruptcy filings. New York's homestead exemption in bankruptcy is relatively modest for such a high-cost-of-living state: CPLR §5206 provides an exemption of $179,975 in New York City and its surrounding counties (Nassau, Suffolk, Rockland, Westchester, Putnam, Orange, and Dutchess) and $149,975 in all other counties — figures that protect some equity but may not be sufficient in markets where median home values exceed $500,000 to $1 million. New York City homeowners in Chapter 7 with equity substantially above the homestead exemption may find that a trustee moves quickly to sell the property under §363 of the Bankruptcy Code, distributing the excess equity to unsecured creditors — making Chapter 13, which allows the debtor to repay creditors over three to five years while retaining the home, a more common choice for New York homeowners with significant equity. Selling a New York home before filing bankruptcy — if equity would be non-exempt — requires careful timing and disclosure, as the trustee can recover pre-petition transfers made within two years of filing under the fraudulent transfer provisions of 11 U.S.C. §548.

• Cash offer within 24 hours
• Close in 7 days or on your schedule
• Buy as-is — no repairs required
• We pay all closing costs
• No agents, no commissions