This document will walk you through the entire process as a Bankruptcy Specialist. If you have any questions along the way we encourage you to reach out to us at or contact one of the team members.

If you are a real estate agent or broker and have not yet completed the Bankruptcy Specialist Certification Course, click here to get started.

What do I get with my Bankruptcy Specialist Certification?

As a Bankruptcy Specialist with BK Global, you will receive training in this unique market segment. The training consists of five modules, including Bankruptcy Basics, Understanding the Seller, The Consented Sale, Data Mining Opportunities, and Working with BK Global.You will also have access to the Listing Opportunities in your effective service area. These are properties associated with bankruptcy cases that can become immediate sources of listings for the educated agent. Lastly, you have full access to the team at BK Global. Whether you need guidance on what to do with a particular file, support on a conference call with debtors, attorneys, or trustees, or want to submit a file for processing, we are here for you.

I have completed the training, now what?

Being a Bankruptcy Specialist is an ongoing evolution. BK Global has several tools to assist you along the way. The broker support help desk is one such tool. You should visit this site frequently as we add new content regularly.This site provides you with videos, scripts, sample letters and recorded webinars with best practices and ongoing developments in the program and software.The best thing you can do is to jump in and get started. The remaining FAQs will walk you through the process to get up and running so that you will be the best you can be in this space.

Your Dashboard

Once you have logged in to you will arrive at your dashboard. This is where you will be able to review the Listing Opportunities, your profile and files that are in process with BK Global. Let’s review a few key points.

Your Profile

Your profile contains critical data that enables the BK Global team to identify you as a potential listing agent on files where BK Global has been hired by a trustee to sell a property in bankruptcy. The data points that we need to be completed are:

  • Your name, address and contact information. The address can be your office or home address. This address is essential as we use this address to geolocate properties
  • Your coverage areas (effective service area) are utilized for two purposes.
  • One, in conjunction with your address will triangulate your location with respect to listing assignments for the BK Global team to select you as a listing agent.
  • Secondly, to open up the database of listing opportunities for you to proactively pursue. Coverage areas can be counties, cities, zip codes, or any combination thereof.

Pro TIP:

You can adjust your coverage areas when downloading Listing Opportunities for specific zip codes or cities and reset it back to your full coverage area any time as this is not a permanent setting.

What are the listing opportunities I receive as a Premier Broker/Bankruptcy Specialist?

There are three types of listing opportunities that our agents have access to and they are outlined below.

Confirmed listings.

These are assigned directly by the BK Global team and are usually properties where the Trustee DOES elect to sell the property.

These are files that BK Global has received from their banking relationships, researched by the team, and outreach to the Trustee has taken place. In these cases, the Trustee DOES NOT elect to sell the property, and the Debtor or their attorney are the contact points.These listing opportunities are a subset of the total listing opportunities. These particular files were sent to BK Global by the servicer/lender to facilitate a pre-foreclosure sale or Consented Sale. BK Global reaches out to the Trustee on each of these files with the goal to list the property with a local broker.When these assets appear on your dashboard, it means that the trustee has decided NOT to sell the property for the benefit of the estate.These will also display the Servicer, Statement of Intention of the Debtor as well as whether they are severely delinquent or not.

Listing Opportunities

These are all of the other files in Bankruptcy requiring agent outreach and vetting for possible listings.

Older Files

The data on your Listing Opportunities dashboard goes back several years. There are several reasons for this.

  • Chapter 13 cases - A Chapter 13 plan usually lasts for 5 years. During the plan it is not uncommon for the debtor to fall behind on their payments which results in the need to revise the plan. This often involves the sale of real property.
  • Chapter 7 cases - We have seen enough instances where a case that is 3-4 years old still results in a listing opportunity. It doesn't hurt to include these in your mail campaigns at least once to find the hidden gems. As we cover in training working around the 341 date is a best practice for ongoing marketing, but people filed bankruptcy for a reason. Sometimes, those reasons persist in their lives.

Saved Listings

You can click the heart next to an asset to pull it aside for future use.

The Data

BK Global aggregates data on bankruptcy files from various sources to produce the data you see on your listing opportunities tab. This includes, mortgage matches and automated valuations models (AVMs) to name a few. The primary matching data is Bankruptcy Case, Debtor Name, Mortgage Match to Debtor Name, Property Match to Mortgage.While this information is provided in real-time as it is compiled there is some potential margin for error. When we match a BK Case, Debtor Name, and Property Address, it is conceivable that the debtor may be a renter and not the property owner. There are several strategies when encountering this.

  • Research every case
    This can be very time-consuming but will validate each file you are reviewing. If you are looking at a specific case for a specific reason (you have a buyer in the area for example) it makes sense to do a deeper dive.
  • Direct mail campaigns
    This is a numbers game and sending postcards (for example) to all properties in your desired area is the simplest strategy. Even if the asset was not a match, you are still marketing yourself to prospective customers. If researching assets is not your cup of tea, this is a quick solution.
  • Downloading data
    You can download a selected group of assets from your dashboard by clicking the “download” link in the upper right-hand corner of your screen.

Asset details

Each of the properties in your listing opportunities/servicer recommended tabs has additional information you can review by clicking the address in the list. This is an active link that will take you to the asset details.Once inside the asset file, you will see the following information.

  • Bankruptcy Chapter (7 or 13)
  • 341 Date
  • Case Number
  • Debtor’s Attorney contact information
  • Debtor’s address
  • Run Debtor Contact Information Search
  • Run Property Owner Search

Contacting Debtors directly

When you view an asset from the Listing Opportunities tab, click on the address to open the asset details page.

We are finding agents using several methods of outreach to Debtors.

  • Run Debtor Search
    This is a skip trace feature you have as part of your membership. Phone numbers and email address where available are displayed. A phone call is the simplest means to get right to the point. Bear in mind the skip trace report may not be 100% correct so other outreach methods may be required.
  • Send a card or letter
    Many agents treat these assets like a virtual “farm area”. This method can be employed with or without researching the assets. Even if the property is occupied by someone other than the debtor, you are still advertising your services.
  • Doorknock
    This is the least efficient method but can effectively initiate a conversation or relationship with the debtor.

Contact Debtor’s Counsel

You will also find the name, address, and phone number for the Debtor’s Counsel. This is a quick way to determine if the debtor intends to sell the property and whether or not the trustee has abandoned the asset. This may be a two-step approach, so be prepared to leave a voicemail message. Be sure to include the debtor’s name(s) and case number in this format XX-XXXXX.The attorney may not know what their client’s intention is, however, this is a great opportunity to open up discussion about putting a program in place with them.There are far more bankruptcy attorneys than trustees, and there is a great opportunity now to get this started. As you know, once the trustee abandons a real estate asset that is in default, the debtor is now at risk of foreclosure.Some law firms provide foreclosure defense services in addition to bankruptcy. Although on a particular file that may prolong the listing opportunity, there are indeed other cases nearing the end of the proverbial rope.BK Global will be happy to set up a Zoom call with you and the attorney to discuss the Consented Sale program and benefits to them and their clients.

  • Attorney – Legal fee paid at closing. A chance to increase their per client revenue.
  • Debtor – Sell versus foreclose and if they reside in the property, relocation assistance.

Pro Tip:

  • Download assets from (you can do 200 at a time)
  • Export to Excel
  • Sort by Debtor’s Counsel
  • Leave one file per Debtor’s Counsel to reduce your list size
  • Repeat as needed to get the number you wish to market to
  • Go to and search by case number.
  • Click “Attorneys” and you will be able to obtain the attorney’s email address
  • Save this in your spreadsheet and repeat it for all attorneys.
  • Import into your CRM or marketing program and start a drip campaign
  • One tactic is to send three emails in a week leading to a live webinar the following week.

You have an opportunity to list a property, now what?

BK Global is here to provide support every step of the way. When you identify a property that the debtor (or attorney) indicates they wish to sell, reach out to us to research the file. We need at a minimum:

  • Case number
  • Debtor(s) Name(s)
  • Are there other owners on the title?
  • Mortgage Company name (if available from the debtor)

We’ll do a deep dive to look at foreclosure dates if any, as well as details from the BK Schedules including debt to income, creditors who have filed claims, etc.Our team will report back to you right away regarding the viability of the property sale. Other than a foreclosure sale date in the very near future, we can typically resolve them all.

BK Global DepartmentsTrustee Services

This team interacts with the trustees across the country on top-down files from the banks and general client relations.

Broker Management
This team assigns listings and processes files from initiation through listing on the MLS. They also request periodic marketing updates on showing activity to report to the short sale lenders.

Online Offer Management
This team reviews all offers submitted on and makes recommendations to the seller (Trustee or Debtor) for acceptance, counteroffer, or multi-offer rounds. You will be in the loop on all offers to be compliant with your local real estate rules. If offers require additional feedback, our team will always reach out to you for your local expertise.


This team takes the file over once we have an executed contract AND title and a preliminary settlement statement. The Consented Sale package is produced and sent to the creditor to begin the underwriting process. They are also involved with property preservation issues such as securing properties, winterization, and lawn maintenance where applicable.

Title and Closing
Once we have an executed contract, our title department requests the title commitment and preliminary settlement statement from the closing agent with precise numbers to be input for the short sale. Throughout the transaction, they will also be involved in clearing liens and negotiating settlements with subordinate lienholders.
Once we are clear to close, they will coordinate with all parties to ensure we hit our target dates.

Listing the Property

You can rest assured that the BK  Global team will guide you every step of the way on these transactions, whether the Trustee or Debtor is the seller.Our Consented Sale program works the best when we all follow the procedure. Refer to the agent duties document on the Broker Support desk for details. A BK Global team member initiates the file in After initiation, you will receive an email with a link to "accept" the assignment on your dashboard, enabling all parties to interact in the transaction. Your involvement includes, but is not limited to:

  • Accept listing or listing opportunity assignments
  • Receive and upload required documents
  • Complete tasks (BPO, Property Condition Report, Photos, for example)
  • List the property (we’ll provide verbiage that needs to go in MLS remarks regarding submitting offers)
  • Review offers
  • Close the sale

Submitting offers
If you get questions from agents regarding how to submit an offer, feel free to direct them to us or provide them with this information.

Register on

  • Register as an agent here.
  • Complete the seven fields. An email will be automatically sent to you to create a password.
  • Once done, you are ready to submit an offer.

Submitting offers:

  • Log in to here.
  • If you forgot your password, you can click “Forgot your Password,” under the login fields, and you will be prompted to enter your user name again, and the system will send you an email to change it.
  • Once logged in, you can click the BKGListings logo or the “search” button at the top of your dashboard to search for the property.
  • As you begin typing the address, it will auto-populate. Click that to make sure you have the address properly input.
  • You will then see a picture of the asset with the address clickable. Click the address
  • You can then click the “Make Offer” button, and you are all set.

Offer management

Our team at BK Global handles all of the heavy lifting with these files and offer management is no different. Offers are submitted online by the buyer’s agents and will be reviewed by the offer management team. Things we look for include:

  • Price and terms
    Offers need to be at least 90% of the list price to be recommended to the Seller for acceptance. If multiple offers are received or a great deal of time has passed since the property was listed, this percentage may vary.
  • A complete document set
    We need at minimum, a Purchase Agreement, BK Global Addendum, and Proof of funds/Pre-approval letter. Any additional documents required in your local region are also accepted.
  • Correct information
    Seller’s name, buyer’s premiums (if applicable), estimated closing dates, etc., are all reviewed.

Once an offer has been deemed acceptable, BK Global will provide the buyer’s agent with detailed instructions to perfect the documents. Once completed, they are sent to the seller for review and e-signature.

Post contract

Based upon the terms of the contract, we typically follow these guidelines.

  • Initial deposit (at least 1% of purchase price) is made within 48 hours of the execution of the contract.
  • Inspections are conducted within ten days of execution of the contract.
  • Additional deposit is due 72 hours AFTER short sale approval.

Major milestones

Refer to the agent duties document on the Broker Support desk for more granular details on the process, but the following is a high-level overview. This is a Bankruptcy Short Sale. Once we have the executed contract here is the general timeline:

  • Order title report and preliminary HUD/Closing Disclosure
  • Create Short Sale package – 24 hours from receipt of Title and settlement statement
  • Submit to Servicer – Same Day
  • Servicer to verify receipt of a complete package – 5 days
  • Servicer to render a decision on file – 30 days from receipt of the package (this may vary depending upon some items such as servicer valuations, value disputes, etc.)
  • Upon Servicer approval, the Trustee files a motion with the court to approve BK Sale – This is administrative in nature but does require a 21-day negative notice period per BK law. [TRUSTEE SALES ONLY]
  • Closings are coordinated upon the filing of the motion for trustee sales or once short sale approval is obtained on Debtor direct sales.

Note: When you add up the days in this list it seems like it should only take 60 days. However, there are days/weeks that can pass between events. For example, ordering title/preliminary settlement statements can take 2-3 weeks depending on the title company and state. We do everything we can to expedite the actions of those involved!

If you are a real estate agent or broker and have not yet completed the Bankruptcy Specialist Certification Course, click here to get started.