Typical timeline for a chapter 7 bankruptcy case illustrates some of the differences among the plans
Do you offer a free trial?
No. In lieu of a free trial, you can browse our expired listings
to give you a sense of our paid service. We also offer a day pass for each of our plans if you would rather explore yourself versus scheduling a demo. Just click on the "Day Pass" right above the pricing cards.
Where can I start learning about bankruptcy asset sales?
The best way to start learning something is by doing. Of course some preliminary reading can really help. Here are some helpful articles to get you started:
For a quick overview:
Bankruptcy Asset Sales Overview
For more in-depth analysis:
When the 363 Sale is the Best Route
For analysis of bidding strategies:
Alternative Bidding Strategies
Ultimately though, you will need to talk to sellers and see for yourself how different each deal can be. Using our Bankruptcy Assets Database, you can quickly pick deals of interest, read about each sale, talk to sellers and even listen in on an auction or two. By preparing yourself with "practice" deals, you'll be able to better take definitive action when you spot that "sweet" deal you've been waiting for.
Why bankruptcy asset sales?
Bankruptcy assets provide an opportunity for profit or to acquire otherwise unique or hard to find assets. Whether you're looking to "turn around" a troubled company, or acquire some unique art, all sorts of assets get sold through the bankruptcy courts.
Of course, any great deal requires some work. Not every asset in bankruptcy will provide a profit opportunity. Often sellers in bankruptcy have marketed the assets fairly well. However, sometimes, that is not the case. Sometimes there will be emergency motion in court because a compelling business reason does not allow sufficient time to properly market an asset. It usually comes down to a matter of timing. What does that mean for you? It means you need to be patient and follow a system of looking through listings we provide. Like most investing, being methodical will usually yield to more favorable results.
What's in your sale motions database?
Almost all sale motions or notices filed in bankruptcy courts across by trustees or other authorized sellers, such as a debtor in possession (we typically exclude sales where debtors are buying back their personal property). The sales motions or notices filed with the courts contain various stages of sales such as: buyers have been found but overbids are sought, an auctioneer is hired to conduct an auction, or the seller is seeking stalking horse bidders. To learn more about these various stages, read the articles listed above, or read the FAQ below entitled "What if the Trustee has already found a buyer - what can I do?"
How many deals of a particular type do you have in a year?
In general, throughout any given year, thousands of assets get sold through the bankruptcy courts. On a monthly basis, there are hundreds of new assets, but most assets are for sale only for 30-90 days. As a result, at any given point in time, we provide a set of listings totaling about 500-700, but this inventory is constantly changing.
If you want to specifically know about a particular asset type, you can browse our expired listings to see what's been listed previously.
Can I access specific case information like pleadings, schedules, etc.?
Yes. Our fully integrated solution allows 1-click access from the listing page to the bankruptcy case docket and menu, so you can access ALL case information for any bankruptcy case. Also, each listing page provides the sale motion as a free download.
How can I know about or track a case to see if it will have an asset for sale?
In addition to the toolsets identified above, we provide other features that allow you to see every chapter 11 case filed across the country, and to track any case of interest automatically alerting you when an event matches any keyword you're interested in. These features are called Chapter 11 Bulletin (daily or weekly email of all Chapter 11 cases) and Docket Alerts. Please review the "Full Feature List" above to see which plan provides access to these tools.
How do I find out what liens are on a piece of real property?
Most of the listings provided on our site will be the result of some negotiation or diligence done by the trustee or a stalking horse bidder. There may be documents as part of the bankruptcy record disclosing any liens on the property. This is especially true if the sale is conducted pursuant to 363(f), which is the Bankruptcy Code section governing sales that will be "free and clear" of liens. Once you are subscribed to our service, you can access the entire court record for that case and conduct your due diligence by clicking on the "see more documents" link found underneath the attached sale motion. If you cannot find what you're looking for in the court record, you can always contact the seller.
What if the Trustee has already found a buyer - what can I do?
Pay attention to the objection period and sale dates. Much of the deals noticed for sale in the bankruptcy court will be the result of an existing agreement between the seller and a potential buyer. However, the Trustee wants to get as much as he/she can for the bankruptcy estate and will typically welcome better offers so long as it's within the time-line of the bankruptcy process. No sale is final until the court enters an order approving the sale, but there is usually a time period after which a better offer may not be accepted. This is typically after the objection period expires (but NOT always). Prior to that time, you can review the relevant terms of the contract between the seller and buyer, and provide a higher or better offer on the property if desired.
If the property had not been effectively marketed prior to the sale motion, or the bankruptcy caused most potential buyers to "drop out," it is quite possible there is significant room to make a higher or better offer while still remaining below open market value (in other words, the market value of the property assuming no bankruptcy was filed).
How can I be the stalking horse bidder?
The best way to be the stalking horse bidder is to be one of the first prospective buyers. You can do so by following the case sooner. We provide the tools to identify and follow cases with assets early on in a case. For example, when a trustee applies to the bankruptcy court to hire a real estate agent, the property in question has not yet been marketed to its fullest. At this stage, our Assets list will not have a listing. However, our robust Premium Search tool can identify cases such as this, thus allowing you to contact the Trustee and make an offer well before the Trustee applies to the court to approve the sale.
Is this available in my city?
Yes, it's available in every jurisdiction in the United States. To find which jurisdiction corresponds with your desired city, simply click on this link: Court Locator
When will I get the leads?
You can create email alerts for daily or weekly intervals.
Any additional costs for the short sale leads?
The only additional cost for short sale leads are the PACER pass-through costs.
Do the leads include telephone numbers? Have they been scrubbed?
We provide whatever exists in the public court records. Phone numbers may or may not be included in the type of report you want. As an example, most pro se filed cases have a phone number for the debtor as part of the public record, whereas adversary proceedings typically have the filings attorney's phone number. If phone numbers are present in any given report, please be advised they have not been "scrubbed" against the Do Not Call list.
I'm a real estate agent / investor. Can you please explain how I can use your leads?
A chapter 13 bankruptcy case allows debtors who have fallen behind on their mortgage payments to reorganize their financial affairs by "making up" their mortgage arrears through a court approved repayment plan. If the debtors are able to continually make their plan payments, their Chapter 13 case proceeds forward. Otherwise the bankruptcy case gets dismissed. Once dismissed, there is no bankruptcy protection and the mortgage lender may proceed with foreclosure. In fact, many times a Chapter 13 case is filed to stall a foreclosure and gets dismissed within weeks after filing. Regardless of the exact circumstances, once a bankruptcy case is dismissed, homeowners may wish to sell, short sell, provide a deed in lieu or take any other action that would allow them the relief they are seeking.
We provide a list of Chapter 13 newly dismissed cases. You can contact the debtors or their attorney and explore win/win situations involving the sale or investment in real property.