This time I will use a descriptive title (yes we can be taught). Okay, so I actually put an offer in on the house with the brick exterior. I put in a nice decent cash offer with only two stipulations on the banks end (septic inspection and a small $400 warranty). I was going to handle all other inspections etc and was told I would likely handle all closing costs as banks just want out of the properties. Well the bank seemed to just nest on the offer as a back up, instead of taking it as an opening for negotiations (my intentions with the offer). They did not accept, reject or counter. I planned to go in today and put in a higher offer to entice them to accept. I called the realtor to see if they would be willing to do FHA and he called in and it turns out they are no longer accepting offers because the bank owning the property went bankrupt! The realtor mentioned the house having to go through bankruptcy court. But I have no idea how any of this is going to work. I was hoping someone here had some experience or knowledge (though admittedly this may not be the ideal place it was the best I could think of). If the house goes into bankruptcy court will it have to go up for auction? Will they consider any standing offers on it (my old one is still on the table). There were two other offers in on it. One came in about the same time as mine. It was a higher offer, but a loan without an LSR and someone with major credit history problems (bankruptcy). The other one came in about a week ago and the only thing I know is that is has no LSR and is also a loan. Logically speaking to me, our cash offer is the most appealing in this situation as it gets the court the most dependable money the immediately and gets the house out of their posession. What I really would like to know is a time line. I can be patient where I am now (dont like it but can handle it). Its actually a bit better that way as I am just basically building up more savings. But if this is going to take until almost the end of the year I may seriously consider moving on.