RE/MAX Prosperity is a team of real estate professionals educated and experienced in all aspects of the short sale process in Arizona. With several team member’s being designated with the Certified Distressed Property Expert (CDPE), and valued relationships with asset managers all over the country, together the team can offer expert service when helping a client avoid foreclosure and negotiate the short sale process. Some important things to know about the short sale process is followed;
What is a Short Sale? A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what they owe.
Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
What is a CDPE designation? A Certified Distressed Property Expert is a real estate professional with specific understanding of the complex issues confronting the real estate industry. Through comprehensive training and experience, CDPE’s are able to provide solutions for homeowners facing hardships in today’s market.
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 in almost all cases, 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.
