Sally English Is A Certified Distressed Property Expert (CDPE)
I just completed a two day in depth seminar on Short Sales and Certified Distressed Property Sales as preparation for obtaining Certification as a Distressed Property Expert. I am pleased to report I have now earned that designation and look forward to better serving my clients who find themselves in situations where the “old school” real estate rules just don’t work anymore.
WHAT IS A Certified Distressed Property Expert or CDPE?
The CDPE Websitehas a wealth of information about the certification and why a special educational opportunity was created for Realtors who want to better serve their clients.
“A Certified Distressed Property Expert®is a real estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners.
Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market, specifically short sales.
The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind.
The developers of the CDPE Designation believe that the best course of action for a homeowner in distress is to speak with a well-informed, licensed real estate professional. They have the tools needed to help homeowners find the best solution for their situation.
Often, when other options have been exhausted, CDPEs can help homeowners avoid foreclosure through the efficient execution of a short sale.
While enduring financial difficulties is challenging for any family, the process of finding a qualified real estate professional should not be. Selecting an agent with the CDPE Designation ensures you are dealing with a professional trained to address your specific needs. For more information, contact a CDPE in your area.
CDPEs don’t merely assist in selling properties, they serve and help save their clients in need.
What is a Short Sale?
A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.
But to be technical, here’s a more official definition:
- A homeowner is ‘short’ when the amount owed on his/her property is higher than current market value.
- A short sale occurs when a negotiation is entered into with the homeowner’s mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then ‘sold short’ of the total value of the mortgage.
For homeowners to qualify for a short sale, they must fall into all of the following circumstances:
- Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
- Monthly Income Shortfall – In other words: “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
- Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.
This seems simple enough, but it is a complicated process that takes the expertise of experienced professionals. Together, you can identify all possible options and, when possible, a CDPE can assist you in the quick execution of a short sale transaction.
PUTTING THE CDPE Certification to Work
Foreclosures and short sales have inundated the market place in Atlanta Georgia. I have already assisted a number of sellers in 2009 who found themselves “upside down” in their mortgage loans. Together, we successfully marketed and sold these properties and avoided foreclosure.
The process requires patience and can be frustrating at times, but the sellers put themselves in a better financial position in the long run and that made it all worth while.
Working with buyers in this market, I have guided my clients to some incredible values and deals on premier properties in Atlanta Georgia. By purchasing short sales ans foreclosures, my buyer clients have truly found some amazing values.
The buying process can take up to 120 days once an offer is submitted so this is definitely not a process for some one who needs to be in a home in 30 days.
CONTACT SALLY ENGLISH to Avoid Foreclosure
I can help home owners avoid foreclosure. Call me now at 404-229-2995 to get started. It would be my pleasure to share with you what I have learned in obtaining my Certified Distressed Property Expert (CDPE) designation.