Where To Find DISMISSED BANKRUPTCIES LIST?
Hello all,
I was speaking with a fellow investor today and he stated that he calls targets folks who have dismissed bankruptcies and that they make up the meat and potatoes of his investments. I was wondering where could I get such a list or is there a service I could use that would give me this list also? Thanks, Tim 
I have found that dismissed bankruptcies have not produced good results as soliciting them on the initial filing of the petition. All my petitions come from the legal newspaper and searching cases at the court house.
My staff goes to the court house and pulls up a 30 day date range and at the same time using a lap top checks to see if they own real estate at the real property tax office.
[addsig]
JohnM, I've heard bankrupcty courts will reverse a sale if it seems like the buyer got too good of a deal. Don't know how they define "too good of a deal," but I'd like to know how to avoid this result. Any tips or www.percentages--e.g., never buy at less than 75% of FMV--that would help prevent this result?
Hello Loone,
Yes the bankruptcy courts can reverse a sale, but from what I have seen with and this is dependent on the homeowners exemption status as established by various state and federal laws that what ever a home owner is entitled to from the exemption status the excess funds will go to secured creditors and than to unsecured creditors.
There are several get arounds to this process, most cases I do not purchase until the discharge occurs simply because the bankruptcy trustee, judge and or court appointed referee must approve the sale if the property is a part of the petition.
Some investors use a get around by purchasing over valued household items such as stove, dishwasher, etc on a separate purchased agreement outside of the real estate purchase agreement in an effort to put more money in the homeowners pocket. This is on the slippery side in the eyes of the legal system.
Most properties I prefer to purchase 75% or less than market value but have done deals as high as 90% of fmv simply because I have had the property pre-sold.
[addsig]
So if I just go to the court house I can ask for a list of folks who just filed bankruptcies? Also, does the legal newspaper list folks who filed bankruptcy and folks who have dismissed bankruptcies? Thanks, Tim
Tim,
Another place to look is in the local newspaper under announcements. (Legal notices) Our paper just gives the name of people that have just petitioned for BK. Then jump over to the assessors web page and see if they have real estate.
In our city, there isn't a list of BK folks readily handed out. We have to look up the info ourselves. Every county is different, so it doesn't hurt to ask the office staff.
The legal newspaper (in our county) does list the dismissed BK cases as well.
Alesia
Happy turkey day Tim,
Some courthouses do provide list but in most cases you will have to research this information your self.
Yes if there is a legal newspaper in the county in question most will list the bankruptcy case even of a new filing or dismissed case.
[addsig]