CDPE’s Dramatically Improve Short Sales Statistics
Posted: Jun 18, 2009
In a recent survey it was shown that Certified Distressed Property Experts across the nation are providing extraordinary results that are giving homeowners hope with respect to the sale of their home when they’re forced to complete a short sale.
For starters, CDPE’s close on 80% of attempted short sales compared with just 20% for real estate agents without the CDPE designation. Not only are they closing a much greater percentage of attempted short sales, but CDPE’s are closing the sales much quicker as well.
The average time it takes a CDPE to close a short sale (measured from the time the offer is accepted by the seller to the time it actually closes) is just 27 days! This contrasts sharply with the 53 day average time in the marketplace; nearly double the time of a CDPE.
CDPE’s have gone through extensive training that enables them to educate the seller on the short sale process, as well as the pros and cons of attempting a short sale. The CDPE must properly market the property to the public and to agents to get an offer. Once the offer is received and accepted by the seller, the CDPE must then prepare a comprehensive package that will accompany the offer before it is presented to the lender for negotiation and hopeful acceptance.
Short sale packages that are presented to lenders by CDPE’s range from 70 to 100 pages in length and include all the required documents up front. It is imperitive the package is properly completed up front. If it is not, it will be set aside and may never close at all. This is one of the main reasons CDPE’s have such an impressive closing ratio and closing time frame; they know how to construct the short sale packages per the particular lender’s requirements.
There are less than 8000 CDPE’s in the nation among the 1.1 million Realtors. Finding a CDPE to assist with the sale or purchase of a home where a short sale is involved is worth its weight in gold.
If you happen to be upside down on your mortgage, lack the funds needed to complete the sale of your house and have experienced some form of financial hardship, you may be a candidate for a short sale. To learn more about short sales, visit www.QualifiedShortSales.com or call Jeff Scislow, CDPE at RE/MAX Results at (952) 431-3900.
