One third of all foreclosures in the United States fall into bankruptcy. Most are snatched up by institutional investors or sold via pool sales with very few make it through to the home buyer. It can also take years to go through a 3-Step process - In Review, Coming Soon and For Sale.
Enter BankruptcyListings.com - a new site that works directly with the bankruptcy trustees through our parent company BK Global. This unique pre-marketing technique is proving very valuable in selling these properties. Several of the top US banks have already signed up and have roughly 100k properties in pipeline. (Some banks have 100k+ of bankruptcy listings)
Bankruptcies have been an extreme pain point for banks and services for years. Bankruptcylistings.com is attempting to take a complex, mind boggling process and simplified it. Since they work directly with the bankruptcy trustees who use a one button click to port these listings to the Bankruptcylistings.com software for marketing. The trustees get paid on money that they are able to collect for the estate. Trustees don’t pay for this service which makes it a simple decision for them. They are able to recover money for the estate whilst simultaneously increasing their income.
As Bankruptcylistings.com controls the process, they also control the listings. It’s important to note that these properties will not be found on Zillow or Realtor.com or any other of the large listing sites (at the moment). They have our own exclusive agreements with real estate agents which gives them control over which sites these listings can be syndicated to. Because of the pre-marketing in steps one and two, most of the properties will be sold by the time by the time they show up on the MLS.
The team at bankruptcylistings.com guesstimate there will be upwards of 500,000 properties over the next year. And since bankruptcy levels are expected to rise, that number will only increase.