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Ana-Maria and her affiliates work with Bankruptcy Attorneys, Trustees and Mortgage Servicers to help sell properties of owners in difficult situations to resolve financial obligations.

  • NO COST to the estate or trustee.

There is a lot of confusion in the Chapter 7 space about the difference between a short sale in bankruptcy and a Consented Sale.


Many trustees state that their local judges or UST frowns upon short sales. There are several reasons for this which vary from district to district.


However, a consented sale is part of the legal process that adheres to Section 363 of the bankruptcy code. From a real estate perspective the sale of an over-encumbered property is referred to as a short sale. However, from a bankruptcy perspective the creditor is exercising their right to mitigate losses by consenting to a sale in bankruptcy.


Let’s look at an example:


Time frame: Foreclosures can take significantly longer than a consented sale.


Deterioration rate: Where a creditor loses the majority of their value in an asset.


Average purchase price is 85% or less of market value after a home becomes an REO vs. what it sells for in BK which we see above 90% Even with a 5% carve-out the creditor’s loss recovery net is over $48,000 more selling in BK than foreclosure.


That is why a secured creditor prefers to exercise their right to sell in Bankruptcy because they retain more value for their asset. In addition to the creditors’ positive outcome, the estate receives money that can be administered, and if the debtor still lives in the home provides them with a graceful exit and avoids having a foreclosure on their credit and being evicted from their home.


We have the technology to manage the process, a document library for each trustee including pleadings, orders and all the documents needed to conduct a consented sale. We also conduct all negotiations with every lien holder to obtain their consent prior to your filing of the Motion to Sell.


We’re ready to get to work for you. That’s the difference!

Ana-Maria Contis Steers Oahu Realtor-San Diego Realtor

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