Roy M. Terry, Jr., VSB # 17764

SANDS ANDERSON PC

P.O. Box 2188

Richmond, VA 23219-2188

Telephone: 804.648.1636

 Chapter 7 Trustee

UNITED STATES BANKRUPTCY COURT

EASTERN DISTRICT OF VIRGINIA 

RICHMOND DIVISION

In re: RENEE DENISE CRENSHAW, Case No.: 17-35091-KRH

Chapter 7

Debtor. 

TRUSTEE’S MOTION FOR ORDER AUTHORIZING THE SALE

OF PROPERTY OF THE ESTATE PURSUANT TO 11 U.S.C. § 363

COMES NOW the Chapter 7 Trustee, Roy M. Terry, Jr. (the “Trustee”), and files this 

motion pursuant to Bankruptcy Code § 363, and Federal Rule of Bankruptcy Procedures 2002, 

6004 and 9014, for entry of an order authorizing the Trustee to sell the bankruptcy estate's 

interest in certain real property free and clear of all liens, claims, encumbrances, and interests

(the "Motion"). In support thereof, the Trustee respectfully states as follows:

JURISDICTION

1. This Court has jurisdiction to consider this Motion pursuant to 

28 U.S.C. §§ 157(b)(2) and 1334. This matter is a core proceeding within the meaning of 

28 U.S.C. § 157(b)(2)(N).

2. Venue is proper before this Court pursuant to 28 U.S.C. §§ 1408 and 1409. 

BACKGROUND

3. On October 11, 2017 (the "Petition Date"), Renee Denise Crenshaw (the 

"Debtor") commenced this case by filing a voluntary petition for relief under Chapter 7 of the 

United States Bankruptcy Code.

4. On October 12, 2017, Roy M. Terry, Jr. was appointed as the Chapter 7 Trustee in 

this case and he continues to serve in that capacity.

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5. The Debtor owns real property commonly known as 5012 Erringer Place, 

Philadelphia, PA 19144 (Parcel ID: 046N21-0069) and further described as follows:

ALL THAT CERTAIN LOT OR PIECE OF GROUND, SITUATE IN THE 

13TH (FORMERLY PART OF THE 22ND) WARD OF THE CITY OF 

PHILADELPHIA. BOUNDED AND DESCRIBED ACCORDING TO A 

SURVEY AND PLAN THEREOF MADE BY H. M. FULLER, ESQUIRE, 

SURVEYOR AND REGULATOR OF THE 9TH DISTRICT ON MARCH 

14, 1924, AS FOLLOWS: BEGINNING AT A POINT ON THE SOUTHWEST 

SIDE OF ERRINGER PLACE 109 FEET 10-5/8 INCHES NORTHWEST OF 

CLAPIER STREET AND EXTENDING IN A NORTHWESTWARDLY 

DIRECTION 18 FEET 3-7/8 INCHES; THENCE IN A SOUTHWESTERLY 

DIRECTION 134 FEET 11 INCHES; THENCE IN A SOUTHEASTERLY 

DIRECTION 18 FEET 3-7/8 INCHES; THENCE IN A NORTHEASTERLY 

DIRECTION 134 FEET 4-7/8 INCHES TO THE PLACE OF BEGINNING 

INCLUDING ON THE REAR END THEREOF A CERTAIN 16 FEET WIDE 

DRIVEWAY LEADING SOUTHEASTWARD INTO THE SAID CLAPIER 

STREET

(the “Property”).

6. The Debtor scheduled the Property as having a value of $116,000.00 subject to a 

mortgage in favor of Mr. Cooper, d/b/a Nationstar Mortgage (the “Secured Creditor”) in the 

amount owed on the Petition Date of approximately $107,642.00. Upon information and belief, 

the fair market value of the Property is significantly higher than the amount scheduled.

7. Contemporaneously herewith, the Trustee has filed his Application to Employ 

Auction.com as Auctioneer and Sean Ryan as Listing Agent to assist with selling the Property.

RELIEF REQUESTED

8. The Trustee requests the entry of an order pursuant to § 363 of the Bankruptcy 

Code approving the sale of the Property by private auction (as defined below), using the services 

of Auction.com, free and clear of all liens, claims, encumbrances, and interests. Importantly, the 

Secured Creditor consents to the Property’s sale and the creation of a carve-out fund (the 

“Carve-Out Fund”) that will enable a distribution to unsecured creditors after the payment of 

administrative costs and expenses.

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BASIS FOR RELIEF

A. The Auction and Sale of the Property Should Be Approved 

9. The Trustee seeks the Court’s authority to sell the Property free and clear of all 

liens, claims, encumbrances, and interests, pursuant to the Auction procedures described below.

10. Pursuant to § 363(b) of the Bankruptcy Code, a trustee, after notice and hearing, 

may use, sell, or lease property of the Debtor’s estate other than in the ordinary course of 

business. The Court should approve the sale if the Trustee can demonstrate a sound business 

justification for the sale and if the sale process is fair, open, and reasonable. See Official Comm. 

Of Unsecured Creditors of LTV Aerospace & Defense Co. v. LTV Corp. (In re Chateaugay 

Corp.), 973 F.2d 141, 143 (2d Cir. 1992); see also In re Sarah’s Tent, LLC, 396 B.R. 571, 573 

(Bankr. S.D. Fla. 2008). Further, Bankruptcy Rule 6004(f) contemplates sales outside of the 

ordinary course of business made by public auction.

11. The Trustee, through the services of Auction.com (“ADC”), intends to offer the 

Property for sale (the “Auction”) following a 21-day multi-channel marketing campaign with 

exposure on Auction.com, Trulia and Zillow. During the 21-day marketing period, Sean Ryan

(the “Listing Agent”) will also list the Property on the Multiple Listing Service and hold at least 

two open houses, to the extent possible. The Auction of the Property will commence after the 

21-day marketing period per the advertised and applicable start and end dates/times. If the 

Property receives a bid that is sufficient to meet the reserve price, then the Property is sold to the 

winning bidder. If the reserve is not met by the end of the first Auction, then ADC will advertise 

a second Auction to commence one week later. If the reserve price is not met at the second 

auction, ADC will advertise and commence a third Auction one week later. In summary, unless 

the reserve price is met, ADC will run three consecutive Auctions in three consecutive weeks in 

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order to provide the Property with sufficient exposure to the marketplace. If the reserve price is 

not met at the third Auction, the Secured Creditor will then utilize its right to purchase the 

Property by credit bid. As part of this process, there will be auction procedures, described 

below, to maximize the value of the Property. 

12. The Auction will facilitate a sale that is in the best interest of the creditors of the 

bankruptcy estate. As such, the Trustee, in the exercise of his business judgment, submits that 

the sale price resulting from the Auction will be fair and reasonable. 

13. The Trustee and ADC will use the following procedures to conduct the Auction 

and sale of the Property. 

 Property to be Sold: The Property that is offered at the 

Auction shall be sold pursuant to § 363 of the Bankruptcy Code 

free and clear of all liens, claims, encumbrances, and interests. 

 The Auction Date: The first “Auction Date” shall not be 

set until entry of an order by the Bankruptcy Court approving the 

Motion to Sell. The first “Auction Date” shall be a date selected 

by ADC that is at least 21 days following the entry of an order by 

the Bankruptcy Court approving the retention of ADC; provided 

however that the Auction Date may be adjourned from time to time 

by posting a notice of adjournment on ADC’s website.

 Registration Process: Each party wishing to participate in 

the Auction shall submit an on-line registration form on the 

website established by ADC for the Auction to qualify as a bidder. 

The registration form shall, among other things: (i) contain such 

information as reasonably requested by ADC to identify the 

potential bidder; and (ii) require a credit card authorization for 

payment of a deposit (in an amount to be determined by ADC in 

consultation with the Trustee), which deposit will either (a) not be 

charged, if the bidder is not the winning bidder, (b) not be charged, 

if the bidder is the winning bidder and timely consummates the 

sale pursuant to the Sale Documents, or (c) may be charged, if the 

bidder is the winning bidder but fails to timely consummate the 

sale, including fails to execute the Sale Documents promptly 

following completion of the Auction. The Secured Creditor shall 

be deemed to be a qualified bidder at the Auction and shall not be 

required to submit a registration form or deposit. ADC, in 

consultation with the Trustee, shall have the right to disqualify any 

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potential bidder as a qualified bidder if such bidder fails to 

complete the registration process.

 Bid Procedure: Prior to the commencement of the first 

Auction Date, the Secured Creditor shall provide a written notice 

(the “Secured Creditor Notice”) to the Trustee and ADC of the 

amount of its credit bid pursuant to § 363(k) of the Bankruptcy 

Code. The Secured Creditor Notice shall also include the 

following information: (i) a minimum purchase price for the sale 

of the Property acceptable to the Secured Creditor (the “Reserve 

Price”); (ii) the Secured Creditor’s initial credit bid amount to 

serve as the opening bid for the Auction (the “Opening Bid”), 

which may be less than the Reserve Price; and (iii) the bidding 

increment(s) (“Bidding Increments”) for each round of bidding 

after the Opening Bid.1 The Bidding Increments may be adjusted 

upwards or downwards during the Auction for each bidding round 

in the discretion of ADC to facilitate the most competitive bidding. 

The Secured Creditor Notice shall be the sole authorization 

required by the Trustee and ADC to consider the submission of the 

Opening Bid and any competing bid(s) by the Secured Creditor 

pursuant to § 363(k) of the Bankruptcy Code.2

 Winning Bid Amount: The “Winning Bid Amount” shall 

be the highest or otherwise best bid selected by the Trustee and 

ADC, consistent with the Secured Creditor Notice, during the 

Auction. 

 Buyer’s Premium: In addition to the Winning Bid 

Amount, the winning bidder shall pay a “Buyer’s Premium” equal 

to the greater of $2,500 or five (5%) of the Winning Bid Amount, 

which shall be paid at closing directly to ADC as its commission 

(the “Buyer’s Premium”). ADC shall not be entitled to any other 

compensation. No Buyer’s Premium shall be paid when the 

highest bid is the Secured Creditor’s credit bid. ADC shall not 

split or otherwise share the Buyer’s Premium with any other 

person or entity. The estate shall not be responsible or obligated to 

pay any compensation to ADC.

 

1

If not otherwise set forth in the Secured Creditor Notice, the Reserve Price, the Opening Bid, and the initial 

Bidding Increments may be established by ADC in consultation with the Trustee and the Secured Creditor; 

provided, however that ADC may adjust Bidding Increments upwards or downwards during the Auction in its 

discretion. 

2 Without limiting the foregoing, ADC shall be authorized to increase Bidding Increments automatically during the 

Auction on behalf of the Secured Creditor to the extent of the authorization provided for in the Secured Creditor 

Notice.

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 Total Purchase Price: The actual total purchase price 

(“Total Purchase Price”) at closing will be equal to the Winning 

Bid Amount plus the Buyer’s Premium.

 Listing Agent’s Commission: The Listing Agent shall 

receive up to 3% of the Winning Bid Amount for any sale that 

closes to a third party buyer (the “Commission”). No Commission 

shall be paid when the highest bid is the Secured Creditor’s credit 

bid. The Listing Agent shall not be entitled to any other 

compensation. The Listing Agent shall not split or otherwise share 

the Commission with any other person or entity, except that if the 

buyer is represented by a real estate agent, the Listing Agent and 

buyer’s real estate agent may split or share the Commission by 

agreement. The Secured Creditor agrees to pay the Commission 

when earned and the estate shall not be responsible or obligated to 

pay any compensation to the Listing Agent.

 Carve-Out Fund: In order to provide for the payment of 

expenses in this Chapter 7 case and to afford general unsecured 

creditors an opportunity to participate in any recovery from the 

sale of the Property, the Secured Creditor has agreed that: (1) if the 

Winning Bid Amount is less than the allowed amounts owing to 

the Secured Creditor, then the Trustee will receive (a) 5% of the 

Winning Bid Amount plus the Listing Agent’s Commission, or (b) 

5% of the Reserve, in the event the Secured Creditor enters the 

winning bid (collectively, the “Standard Carve-Out”); provided 

however that the Standard Carve-Out shall never be less than 

$7,500.00, exclusive of the Listing Agent’s Commission, nor shall 

it exceed $50,000.00, exclusive of the Listing Agent’s 

Commission; (2) if the Winning Bid Amount exceeds the amounts 

owing to the Secured Creditor, then the portion which exceeds the 

amounts owing to the Secured Creditor and any valid and 

substantiated junior secured lienholder (the “Surplus”) shall be 

retained by the Trustee and no carve-out shall be paid; however, if 

the Surplus is less than the Standard Carve-Out set out above by 

any amount (“Short Surplus Amount”) then the Secured Creditor 

consents to paying the Trustee an amount equal to the Short 

Surplus Amount; and (3) the Trustee shall be reimbursed by the 

Secured Creditor for any liability insurance expenses incurred by 

the Trustee.

 Back-Up Bidder: ADC shall be authorized, but not 

required, to accept the second highest bid submitted during the 

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Auction as a “back-up” bid in the event that the winning bidder 

fails to consummate the sale transaction.3

 Sale Documents: Promptly following the closing of the 

Auction, the winning bidder shall execute a sale agreement or 

other applicable sale documents as required by the Trustee (the 

“Sale Documents”).

14. Accordingly, the Trustee submits that the sale of the Property pursuant to the 

above Auction process is reasonable under Bankruptcy Code § 363(b).

B. The Sale of the Property Should Be Approved Free and Clear of All 

Interests

15. Pursuant to Bankruptcy Code § 363(f), the Trustee may sell property free and 

clear of any interest in such property in an entity other than the estate if (1) permitted under 

applicable non-bankruptcy law; (2) the party asserting such interest consents; (3) the interest is a 

lien and the purchase price at which the property is to be sold is greater than the aggregate value 

of all liens on the property; (4) the interest is the subject of a bona fide dispute; or (5) the party 

asserting the interest could be compelled, in a legal or equitable proceeding, to accept a money 

satisfaction for such interest. See In re Smart World Techs., LLC, 423 F.3d 166, 169 n.3 (2d Cir. 

2005) (“Section 363 permits sales of assets free and clear of claims and interests . . . It thus 

allows purchasers . . . to acquire assets [from a debtor] without any accompanying liabilities.”); 

see also In re MMH Auto. Group, LLC, 385 B.R. 347, 367 (Bankr. S.D. Fla. 2008).

16. The Trustee states that he shall satisfy Section 363(f)(2) of the Bankruptcy Code 

because the Secured Creditor consents to a sale of the Property under Section 363(f)(2) of the 

Bankruptcy Code, free and clear of all liens, claims, encumbrances, and interests.

 

3 Acceptance of a “back-up” bid and proceeding to consummate a transaction with the “back-up” bidder shall be 

without prejudice to any claim of the Trustee against the winning bidder for failing to proceed. All rights are 

reserved. 

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17. Accordingly, under Bankruptcy Code § 363(f)(2), the Trustee seeks authority to 

sell the Property free and clear of all liens, claims, encumbrances, and interests. 

18. The Secured Creditor agrees to pay at closing (1) all outstanding real estate taxes, 

including any prorated amounts due for the current tax year; (2) if applicable, the lesser of any 

HOA fees accrued post-petition or the equivalent to twelve months’ assessments; and (3) all 

closing costs excluding professional fees. Any payments by the Secured Creditor as stated 

herein shall be subject to any and all limitations on the Secured Creditor’s liability for any fees 

and costs under applicable law.

C. The Sale Will Be Undertaken by the Buyer in Good Faith

19. Bankruptcy Code § 363(m) protects a good faith purchaser’s interest in property 

purchased from a debtor notwithstanding that the sale conducted under § 363(b) was later 

reversed or modified on appeal.

20. The sale should be found to have been in good faith if the Trustee can 

demonstrate the transaction occurred at arm’s-length and without fraud or collusion. See Kabro 

Assocs. of West Islip, LLC v. Colony Hill Assocs. (In re Colony Hill Assocs.), 111 F.3d 269, 276 

(2d Cir. 1997) (“Typically, the misconduct that would destroy a purchaser’s good faith status at a 

judicial sale involves fraud, collusion between the purchaser and other bidders or the trustee, or 

an attempt to take grossly unfair advantage of other bidders.” (citation omitted)); see also In re

Lorraine Brooke Associates, Inc., No. 07-12641 2007 WL 2257608 (Bankr. S.D. Fla. Aug. 2, 

2007) (holding that a sale was entitled to the protections of Section 363(m) of the Bankruptcy 

Code when it was based upon arm’s length bargaining and without collusion).

21. The Trustee asserts that the sale of the Property pursuant to the Auction will 

utilize a competitive and transparent marketplace that facilitates an arm’s-length sale without 

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fraud or collusion. Accordingly, the Trustee respectfully requests that the Court find that the 

purchaser(s) will be entitled to the protections of Section 363(m) of the Bankruptcy Code.

22. The Trustee further states that:

(a) the Trustee has reviewed the tax implications of the proposed Sale;

(b) the Trustee has determined, based upon a review of the Debtor’s schedules 

and information derived from the 341 meeting, that there will be a meaningful 

distribution to allowed creditors based upon the understanding that the final sale price 

and the total dollar amount of claims to be filed in this case are both unknown and can 

only be estimated at this time; and

(c) given the information available at this time, the Trustee has made an 

educated evaluation and determined that the proposed Sale is in the best interest of the 

estate and its creditors.

WHEREFORE, the Trustee respectfully requests entry of an order substantially in the 

form of Exhibit A, attached hereto, and granting the Trustee such other and further relief as is 

just and proper. 

Respectfully submitted this 29

th day of May, 2018.

ROY M. TERRY, JR., CHAPTER 7 TRUSTEE

FOR THE BANKRUPTCY ESTATE OF 

RENEE DENISE CRENSHAW

/s/ Roy M. Terry, Jr.

Roy M. Terry, Jr., VSB # 17764

SANDS ANDERSON PC

P.O. Box 2188

Richmond, VA 23219-2188

Telephone: 804.648.1636

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CERTIFICATE OF SERVICE

I hereby certify that on this 29

th day of May, 2018, a true copy of the foregoing Motion

was electronically filed with the Court using the CM/ECF system which provides electronic 

notification to all parties that receive notice in this case and mailed, postage fully prepaid, to the 

parties on the attached service list and to the following parties4:

John G. Merna, Esquire

The Merna Law Group, PC

3419 Virginia Beach Boulevard, Suite 236

Virginia Beach, VA 23452

 Debtor Counsel

Renee Denise Crenshaw

4211 Dorset Road

Richmond, VA 23234

 Debtor

Mr. Cooper

d/b/a Nationstar Mortgage

8950 Cypress Waters Blvd.

Coppell, TX 75019

Mr. Cooper

d/b/a Nationstar Mortgage

c/o Mary F. Balthasar Lake, Esquire

Shapiro & Brown, LLP

501 Independence Parkway, Suite 203

Chesapeake, VA 23320

 Counsel for Mr. Cooper

Robert Van Arsdale, Esquire

Office of the U.S. Trustee

701 East Broad Street, Suite 4304

Richmond, VA 23219

Auction.com, LLC

1 Mauchly

Irvine, CA 92618

/s/ Roy M. Terry, Jr.

ND4834-1635-2614

 

4

In accordance with Local Bankruptcy Rule 5005-1(C)(8), when service is made on more than 25 persons or parties, 

the service list is not attached to copies served on each of the persons or parties, but is attached to the original 

Certificate of Service filed with the Court.

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 Label Matrix for local noticing Nationstar Mortgage LLC D/B/A Mr. Cooper 

 0422-3 Shapiro & Brown, LLP 

 Case 17-35091-KRH 501 Independence Parkway, Suite 203 

 Eastern District of Virginia Chesapeake, VA 23320-5174 

 Richmond 

 Fri May 25 15:17:35 EDT 2018 

 American Express (p)BANK OF AMERICA Bank of America Home Loans 

 PO Box 981537 PO BOX 982238 P.O. Box 660694 

 El Paso, TX 79998-1537 EL PASO TX 79998-2238 Dallas, TX 75266-0694 

 

 Bank of America Home Loans * Barclays Bank Delaware CJW Medical Center 

 CT CORPORATION SYSTEM PO Box 8803 PO Box 740760 

 4701 COX RD STE 301 Wilmington, DE 19899-8803 Cincinnati, OH 45274-0760 

 Glen Allen, VA 23060-6802 

 Capital One Chase Card Chase Mortgage 

 Po Box 70885 P.O. Box 15298 P.O. Box 24696 

 Charlotte, NC 28272-0885 Wilmington, DE 19850-5298 Columbus, OH 43224-0696 

 Chase Mortgage* Chippenham JW Med Ctrs City National Bank of WV 

 c/o Corporation Service Co. P.O. Box 13620 308 Goff Mountain Road 

 1111 E Main Street, 16th Floor Richmond, VA 23225-8620 Charleston, WV 25313-1415 

 Sparrows Point, MD 21219-0000 

 (p)CITY OF PHILA SCHOOL DISTRICT OF PHILA City of Philadelphia Credit One Bank 

 MUNICIPAL SERVICES BUILDING PO Box 41819 PO Box 98873 

 1401 JOHN F KENNEDY BLVD 5TH FLOOR Philadelphia, PA 19101-1819 Las Vegas, NV 89193-8873 

 PHILADELPHIA PA 19102-1617 

 (p)DISCOVER FINANCIAL SERVICES LLC Enerbank USA James River Emergency Group 

 PO BOX 3025 1245 Brickyard Road Ste 600 P.O. Box 14000 

 NEW ALBANY OH 43054-3025 Salt Lake City, UT 84106-2562 Belfast, ME 04915-4033 

 Macys Nationstar Mortagage Nationstar Mortgage* 

 PO Box 8218 8950 Cypress Waters Blvd Bank of America Center, 16th F 

 Mason, OH 45040-8218 Coppell, TX 75019-4620 1111 East Main Street 

 Richmond, VA 23219-3531 

 Nationwide Credit, Inc Northland Group Ocwen Loan Servicing 

 P.O. Box 14581 PO Box 390846 1661 Worthington Rd Ste 100 

 Des Moines, IA 50306-3581 Minneapolis, MN 55439-0846 West Palm Beach, FL 33409-6493 

 Ocwen Loan Servicing* Onemain Phillips & Cohen Associates 

 Corporation Service Company PO Box 1010 PO Box 5790 

 1111 East Main Street Evansville, IN 47706-1010 Hauppauge, NY 11788-0164 

 Richmond, VA 23219-3531 

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 SYNCB/Care Credit SYNCB/Paypal Extras MC SYNCB/TJX Cos DC 

 PO Box 965036 PO Box 965005 PO Box 965005 

 Orlando, FL 32896-5036 Orlando, FL 32896-5005 Orlando, FL 32896-5005 

 

 Sears/CBNA Sears/CBNA (p)TD BANKNORTH NA 

 PO Box 6282 PO Box 6283 70 GRAY ROAD 

 Sioux Falls, SD 57117-6282 Sioux Falls, SD 57117-6283 FALMOUTH ME 04105-2299 

 WF PLL Wells Fargo Card Sevices John G. Merna 

 P.O. Box 94435 PO Box 14517 The Merna Law Group, P.C. 

 Albuquerque, NM 87199-4435 Des Moines, IA 50306-3517 3419 Virginia Beach Boulevard, #236 

 Virginia Beach, VA 23452-4419 

 Judy A. Robbins Renee Denise Crenshaw 

 Office of the U.S. Trustee - Region 4 -R 4211 Dorset Road 

 701 E. Broad Street, Suite 4304 Richmond, VA 23234-3640 

 Richmond, VA 23219-1849 

 

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Exhibit A

Roy M. Terry, Jr., VSB # 17764

SANDS ANDERSON PC

P.O. Box 2188

Richmond, VA 23219-2188

Telephone: 804.648.1636

 Chapter 7 Trustee

UNITED STATES BANKRUPTCY COURT

EASTERN DISTRICT OF VIRGINIA

RICHMOND DIVISION

In re: RENEE DENISE CRENSHAW, Case No.: 17-35091-KRH

Chapter 7

Debtor. 

ORDER GRANTING CHAPTER 7 TRUSTEE’S MOTION TO SALE

REAL PROPERTY FREE AND CLEAR OF LIENS, CLAIMS, ENCUMBRANCES,

AND INTERESTS PURSUANT TO 11 U.S.C. § 363

Before the Court is the Trustee’s Motion To Sale Real Property Free And Clear of Liens, 

Claims, Encumbrances, and Interests Pursuant to 11 U.S.C. § 363 [Docket No. ____ ] (the “Sale 

Motion”), by which Roy M. Terry, Jr. (the “Trustee”), Chapter 7 Trustee for the abovereferenced debtor (“Debtor”), seeks authority to sell, free and clear of all liens, encumbrances, 

and interests, certain real property owned by Debtor, commonly known as 5012 Erringer Pl, 

Philadelphia, PA 19144, and more particularly described as:

Land referred to in this commitment is described as all that certain property 

situated in the county of Philadelphia, and state of PA and being described in 

a deed dated 04/17/2000 and recorded 05/08/2000 in Instrument Number:

50076936 among the land records of the county and state set forth above, and

referenced as follows:

ALL THAT CERTAIN LOT OR PIECE OF GROUND, SITUATE IN THE 

13TH (FORMERLY PART OF THE 22ND) WARD OF THE CITY OF 

PHILADELPHIA. BOUNDED AND DESCRIBED ACCORDING TO A 

SURVEY AND PLAN THEREOF MADE BY H. M. FULLER, ESQUIRE,

SURVEYOR AND REGULATOR OF THE 9TH DISTRICT ON MARCH 

14, 1924, AS FOLLOWS: BEGINNING AT A POINT ON THE 

SOUTHWEST SIDE OF ERRINGER PLACE 109 FEET 10-5/8 INCHES 

NORTHWEST OF CLAPIER STREET AND EXTENDING IN A 

NORTHWESTWARDLY DIRECTION 18 FEET 3-7/8 INCHES; THENCE 

IN A SOUTHWESTERLY DIRECTION 134 FEET 11 INCHES; THENCE 

IN A SOUTHEASTERLY DIRECTION 18 FEET 3-7/8 INCHES; THENCE

IN A NORTHEASTERLY DIRECTION 134 FEET 4-7/8 INCHES TO THE 

PLACE OF BEGINNING INCLUDING ON THE REAR END THEREOF A 

CERTAIN 16 FEET WIDE DRIVEWAY LEADING SOUTHEASTWARD 

INTO THE SAID CLAPIER STREET.

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2

PARCEL ID: 046N21-0069. (the “Property”)

For the reasons set forth in the Sale Motion and on the record at the Sale Hearing, the 

Trustee has demonstrated that the sale of the Property on the terms contained in the Sale Motion

is in the best interests of the Debtor’s estate. Accordingly, it is hereby

ORDERED AND ADJUDGED as follows:

1. The relief requested in the Sale Motion is GRANTED and the sale of the 

Property by the Trustee pursuant to 363(b), (f) and (m) free and clear of all liens, claims, 

encumbrances, and interests, by auction, using the services of Auction.com (“ADC”), is hereby 

APPROVED, subject to the terms and conditions herein.

2. Notice of the Sale Motion was proper, and no objections to the Sale 

Motion were timely filed. Thus, to the extent any creditor (other than the Secured Creditor) 

asserts an interest or secured claim against the Property, such creditor is deemed to have 

consented to entry of this Order, and such creditor’s claim shall not be a secured claim. To the 

extent any creditor asserts a claim against the Property (i.e., junior lienholders), such creditor 

shall be entitled to file a proof of claim pursuant to F.R.B.P. Rule 3002(c)(3).

3. Except as provided in the Sale Documents, upon the Closing Date the 

Property shall be transferred to the Buyer free and clear of all encumbrances arising prior to the 

Closing Date or arising from or relating to acts occurring prior to the Closing Date, and any such 

substantiated interest, claims, liens or encumbrances, if any, shall be deemed general unsecured 

claims. 

4. If any person or entity that has filed a financing statement or other 

documents or agreements evidencing interest, claims, liens or encumbrances on the Property 

does not timely deliver to the Trustee prior to the Closing Date—in proper form for filing and 

executed by the appropriate parties—termination statements, instruments of satisfaction, and/or 

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releases of all encumbrances which the person or entity has with respect to the Property, the 

Buyer is hereby authorized to execute and file such statements, instruments, releases and other 

documents on behalf of the person or entity with respect to the Property. The foregoing 

notwithstanding, the provisions of this Order authorizing the sale and assignment of the Property 

free and clear of encumbrances shall be self-executing, and notwithstanding the failure of the 

Buyer, the Trustee, or any other party to execute, file or obtain releases, termination statements, 

assignments, consents or other instruments to effectuate and implement the provisions of this 

Order or the Sale Documents, respectively, all encumbrances on the Property shall be deemed 

divested, released and terminated. 

5. The creation and use by Trustee of a Carve-Out Fund, as defined and 

described below, is hereby approved.

6. ADC may take any actions necessary to facilitate the sale of the property, 

including but not limited to: marketing the Property itself or via a Listing Agent (as that term is 

defined in the Sale Motion), and conducting the auction of the Property using the following 

procedures:

a. The Auction Date: The first “Auction Date” shall not be set until entry of 

an order by the Bankruptcy Court approving the Motion to Sell. The first 

“Auction Date” shall be a date selected by ADC that is at least 21 days 

following the entry of an order by the Bankruptcy Court approving the 

retention of ADC; provided however that the Auction Date may be 

adjourned from time to time by posting a notice of adjournment on ADC’s 

website.

b. Registration Process: Each party wishing to participate in the Auction 

shall submit an on-line registration form on the website established by 

ADC for the Auction to qualify as a bidder. The registration form shall, 

among other things: (i) contain such information as reasonably requested 

by ADC to identify the potential bidder; and (ii) require a credit card 

authorization for payment of a deposit (in an amount to be determined by 

ADC in consultation with the Trustee), which deposit will either (a) not be 

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charged, if the bidder is not the winning bidder, (b) not be charged, if the 

bidder is the winning bidder and timely consummates the sale pursuant to 

the Sale Documents, or (c) may be charged, if the bidder is the winning 

bidder but fails to timely consummate the sale, including fails to execute 

the Sale Documents promptly following completion of the Auction. The 

Secured Creditor shall be deemed to be a qualified bidder at the Auction 

and shall not be required to submit a registration form or deposit. ADC, in 

consultation with the Trustee, shall have the right to disqualify any 

potential bidder as a qualified bidder if such bidder fails to complete the 

registration process.

c. Bid Procedure: Prior to the commencement of the first Auction Date, the 

Secured Creditor shall provide a written notice (the “Secured Creditor 

Notice”) to the Trustee and ADC of the amount of its credit bid pursuant 

to Section 363(k) of the Bankruptcy Code. The Secured Creditor Notice 

shall also include the following information: (i) a minimum purchase price 

for the sale of the Property acceptable to the Secured Creditor (the 

“Reserve Price”); (ii) the Secured Creditor’s initial credit bid amount to 

serve as the opening bid for the Auction (the “Opening Bid”), which may 

be less than the Reserve Price; and (iii) the bidding increment(s) 

(“Bidding Increments”) for each round of bidding after the Opening 

Bid.1 The Bidding Increments may be adjusted upwards or downwards 

during the Auction for each bidding round in the discretion of ADC to 

facilitate the most competitive bidding. The Secured Creditor Notice shall 

be the sole authorization required by the Trustee and ADC to consider the 

submission of the Opening Bid and any competing bid(s) by the Secured 

Creditor pursuant to Section 363(k) of the Bankruptcy Code.2

d. Winning Bid Amount: The “Winning Bid Amount” shall be the highest 

or otherwise best bid selected by the Trustee and ADC, consistent with the 

Secured Creditor Notice, during the Auction. 

e. Buyer’s Premium: In addition to the Winning Bid Amount, the winning 

bidder shall pay a “Buyer’s Premium” equal to the greater of $2,500.00 or 

five (5%) of the Winning Bid Amount, which shall be paid at closing 

directly to ADC as its commission (the “Buyer’s Premium”). ADC shall 

 

1

If not otherwise set forth in the Secured Creditor Notice, the Reserve Price, the Opening Bid, and the initial 

Bidding Increments may be established by ADC in consultation with the Trustee and the Secured Creditor; provided 

however, that ADC may adjust Bidding Increments upwards or downwards during the Auction in its discretion. 

2 Without limiting the foregoing, ADC shall be authorized to increase Bidding Increments automatically during the 

Auction on behalf of the Secured Creditor to the extent of the authorization provided for in the Secured Creditor 

Notice.

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not be entitled to any other compensation. No Buyer’s Premium shall be 

paid when the highest bid is the Secured Creditor’s credit bid. ADC shall 

not split or otherwise share the Buyer’s Premium with any other person or 

entity. The estate shall not be responsible or obligated to pay any 

compensation to ADC.

f. Total Purchase Price: The actual total purchase price (“Total Purchase 

Price”) at closing will be equal to the Winning Bid Amount plus the 

Buyer’s Premium.

g. Listing Agent’s Commission: The Listing Agent shall receive up to 3% 

of the Winning Bid Amount for any sale that closes to a third party buyer 

(the “Commission”). No Commission shall be paid when the highest bid 

is the Secured Creditor’s credit bid. The Listing Agent shall not be 

entitled to any other compensation. The Listing Agent shall not split or 

otherwise share the Commission with any other person or entity, except 

that if the buyer is represented by a real estate agent, the Listing Agent and 

buyer’s real estate agent may split or share the Commission by agreement. 

The Secured Creditor agrees to pay the Commission when earned and the 

estate shall not be responsible or obligated to pay any compensation to the 

Listing Agent.

h. Carve-Out Fund: In order to provide for the payment of expenses in this 

Chapter 7 case and to afford general unsecured creditors an opportunity to 

participate in any recovery from the sale of the Property, the Secured 

Creditor has agreed that (1) if the Winning Bid Amount is less than the 

allowed amounts owing to the Secured Creditor, then the Trustee will 

receive (a) 5% of the Winning Bid Amount plus the Listing Agent’s 

Commission, or (b) 5% of the Reserve, in the event the Secured Creditor 

enters the winning bid (collectively, the “Standard Carve-Out”); provided 

however that the Standard Carve-Out shall never be less than $7,500.00, 

exclusive of the Listing Agent’s Commission, nor shall it exceed 

$50,000.00, exclusive of the Listing Agent’s Commission; (2) if the 

Winning Bid Amount exceeds the amounts owing to the Secured Creditor, 

then the portion which exceeds the amounts owing to the Secured Creditor

and any valid and substantiated junior secured lienholder (the “Surplus”) 

shall be retained by the Trustee and no carve-out shall be paid; however, if 

the Surplus is less than the Standard Carve-Out set out above by any 

amount (“Short Surplus Amount”) then the Secured Creditor consents to 

paying the Trustee an amount equal to the Short Surplus Amount; and (3)

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the Trustee shall be reimbursed by the Secured Creditor for any liability 

insurance expenses incurred by the Trustee. 

i. Back-Up Bidder: ADC shall be authorized, but not required, to accept 

the second highest bid submitted during the Auction as a “back-up” bid in 

the event that the winning bidder fails to consummate the sale transaction.

j. Sale Documents: Promptly following the closing of the Auction, the 

winning bidder shall execute a sale agreement or other applicable sale 

documents as required by the Trustee (the “Sale Documents”).

7. The Trustee’s acceptance of a “back-up” bid and proceeding to 

consummate a transaction with the “back-up” bidder shall be without prejudice to any claim of 

the Trustee against the winning bidder for failing to proceed. 

8. If the reserve is not met by the end of the first Auction, then ADC will 

advertise a second Auction to commence one week later. If the reserve price is not met at the 

second Auction, ADC will advertise and commence a third Auction one week later. If the 

reserve price is not met at the third Auction, the Secured Creditor may then utilize its right to 

purchase the Property by credit bid. 

9. To the extent applicable in any sale, the Secured Creditor agrees to pay at 

closing (1) all outstanding real estate taxes, including any prorated amounts due for the current 

tax year; (2) if applicable, the lesser of any HOA fees accrued post-petition or the equivalent to 

twelve months’ assessments; and (3) all closing costs excluding professional fees. Any 

payments by the Secured Creditor as stated herein shall be subject to any and all limitations on 

the Secured Creditor’s liability for any fees and costs under applicable law.

Date: 

KEVIN R. HUENNEKENS

UNITED STATES BANKRUPTCY JUDGE

Entered on Docket:

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For this I ask:

/s/ Roy M. Terry, Jr.

Roy M. Terry, Jr., VSB No. 17764

SANDS ANDERSON PC

PO Box 2188

Richmond, Virginia 23218-2188

Telephone: 804.648.1636

Counsel for Roy M. Terry, Jr., Chapter 7 Trustee

L.B.R. 9022-1(C) CERTIFICATION

I hereby certify that the foregoing proposed order has been endorsed by all necessary 

parties.

/s/ Roy M. Terry, Jr.

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COPIES TO:

John G. Merna, Esquire

The Merna Law Group, PC

3419 Virginia Beach Boulevard, Suite 236

Virginia Beach, VA 23452

 Debtor Counsel

Renee Denise Crenshaw

4211 Dorset Road

Richmond, VA 23234

 Debtor

Mr. Cooper

d/b/a Nationstar Mortgage

8950 Cypress Waters Blvd.

Coppell, TX 75019

Mr. Cooper

d/b/a Nationstar Mortgage

c/o Mary F. Balthasar Lake, Esquire

Shapiro & Brown, LLP

501 Independence Parkway, Suite 203

Chesapeake, VA 23320

 Counsel for Mr. Cooper

Robert Van Arsdale, Esquire

Office of the U.S. Trustee

701 East Broad Street, Suite 4304

Richmond, VA 23219

Auction.com, LLC

1 Mauchly

Irvine, CA 92618

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