Help for Sellers Owing More than House is Worth: CDPE for Short Sales

You may have been wondering why I haven't made a blog post in a while. Well, I enjoyed a long, holiday weekend AND have been bucking up on learning about real estate and Short Sales in Central Florida, in general.

In looking back at Short Sales/Pre-Foreclosures and my business, I discovered that I was doing Short Sales BEFORE they were cool. :) What I mean is this: I began helping Homeowners in Distress in 2005, when I first helped a couple sell their single family home that was basically demolished by a tree through the roof which affected EVERYTHING in the house and allowed moisture intrusion. I was introduced to this couple via an investor that was trying to buy the place but didn't think there was enough return on his investment. Well, this couple had a definite hardship b/c the house was unlivable. My broker at the time encouraged me to help this couple but cautioned that it would be a difficult transaction and would probably wind up not going anywhere. And--he was right--it WAS a pain in the neck! It was probably the most difficult transaction I had ever had and I really had no clue what I was doing. I just knew I needed to help this couple get out of a terrible situation and called the attorney that was associated with the pre-foreclosure process and also found out that there was another lien on the property from the county. Well, the transaction finally closed after a roller-coaster ride for the Sellers but they were finally put back on the road to recovery from their headache of a house.

So, about 2 years ago, I was approached by a REALTOR to help him sell HIS property as a Short Sale. Actually, his property listing had Expired (not sold while listed) with another agent that also had no clue about the Short Sale process and how to sell a property for LESS than what is owed to the bank. I listed the condo, got a cash contract for the house that was $30K OVER what the bank wanted, everything was good and almost made it through the entire process BUT the bank sent a nice letter saying the SELLER did not qualify for a Short Sale. I couldn't believe it. I had worked very hard to do the right thing and help the Seller with selling a condo, of all things, then BAM!--the Bank says "No." And, yes, there was a hardship for this Seller but the bank could have cared less.

Flash forward to January of this year. I had been hearing about a LOT of Short Sale Seminars, designations, etc. and, after having completed a few recent Short Sales, wanted to see if I could further my education about them but all the seminars I went to were pithy at best and I already knew everything that they were saying--but I wanted something more. So, I looked into the Certified Distressed Property Expert designation. While it is not yet recognized by our National Association of REALTORs at the moment, I have a feeling that it soon will be. (But, that's just my opinion.) I think that having a designation that has Expert in it is a little presumptuous of the powers that be b/c I don't think that anyone can ever figure out EVERY bank or investor but they don't need my okay to name the designation what they did. :)

As of todayI'm happy to say that I've completed all the coursework involved and am now a fully-fledged CDPE (Certified Distressed Property Expert)!

If You're Curious What Your Orange County or Seminole County Home is Worth, Click Below:

www.24HrHousePrices.com/OrlandoArea

As a REALTOR(r) in the Central Florida area, I am able to SHOW and SELL ANY LISTING FROM ANY COMPANY. Plus, YOU pay me no commission; the SELLER typically pays my commission and you get superlative representation.

Good Information for Buyers & Sellers Located at:

http://www.winterparkhomefinder.com/

Search for Homes Myself on My Computer in the Privacy of My Home at:

http://lisaspalding.mfr.mlxchange.com/

Best wishes in your home search!

--Lisa Spalding, REALTOR, Certified Distressed Property Expert (CDPE)

Watson Realty Corp., REALTORs

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