08 Aug 2017

Next Stop… More Short Sale Properties from RealAssist™!

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The RealAssist™ program by BMS has been running for over a year, and it has been a roaring success!

Since the program’s debut, we’ve provided Trustees with short sale opportunities which have turned no asset cases into profitable asset cases with funds available for distribution to creditors. Currently, 12 properties have been sold; plus, another 5 are in the final closing stages, and 6 more are being auctioned.

The program is still growing—the volume of eligible, servicer pre-approved properties is increasing dramatically!

What is RealAssist™?

RealAssist™ by BMS is a streamlined short sale program that offers you a no-hassle opportunity to increase the value of estates you administer while allowing debtors to avoid the foreclosure process.

It’s the fastest and simplest way to handle selling off properties that are part of the bankruptcy estate, because we obtain approval and an acceptable minimum bid from servicers in advance, and screen for properties that debtors intend to surrender.

Plus, we guarantee a carve-out for the bankruptcy estate of either 5% of the winning bid or a minimum of $7,500 (whichever is greater). It’s a win-win!

Benefits of RealAssist™

With the streamlined process provided by RealAssist™, all parties involved in the sale benefit, and you get more asset cases in addition to these advantages:

  • Shortened Sales Timeline. With a finite 21-day marketing period followed by up to 3 auctions on Auction.com, the properties you list through RealAssist™ sell fast so you can continue to close cases in a timely manner.
  • Global Sales Platform. The Auction.com website is frequented by nearly 1.7 million buyers each month. Properties listed for sale through the RealAssist™ program get seen by buyers around the world.
  • Greater Sales Prices. Auction.com brings in traffic up to 100x greater than other sites. The bidding model and larger buyer pool helps to drive higher sales prices for properties while yielding greater returns for the estate.
  • Choose Your Own Agent. Choose your own listing agent, or receive a recommendation from Auction.com. We will work with your listing agent and provide consistent updates and communication for a totally stress-free experience.
  • File Motions Hassle-Free. With tailored templates provided by BMS, sign and file court documents with minimal effort on your part. As you list more properties through this program, motion templates will be delivered to your CaseLink software or RealAssist™ web portal.
  • Reliable Partners. For over 25 years, BMS has worked to bring efficiency and productivity to complex case administration tasks. Working hand-in-hand with industry leader Auction.com, we’ve carefully created a streamlined real estate program that’s easy for you to work with.

How do I Get Notified of Properties?

So how do you know if you have a case with eligible short sale property? Check your email!

Whenever an eligible property has been pre-approved by a servicer for short sale, the RealAssist™ team at BMS will send you an email with a subject line like the below example:

  • Case No.: 17-12345 (FRANK LLOYD WRIGHT); Short Sale Opportunity via RealAssist™

If you receive an email with a similar subject line, this is your short sale opportunity waiting for your review.  The email will describe the benefits of the program, provide the property address and mortgage servicer information.

We will also provide a Broker’s Price Opinion of value, along with a property report that contains title notes. This will allow you to make an educated decision as to whether the offer is practical for your case.

So join the other trustees who have realized asset cases by utilizing the RealAssist™ program.  Opportunities will arrive in your inbox soon – be sure to open our email!

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