Due to the current economic slowdown, a large number of homeowners have found themselves in financially precarious situations, with homes or properties they can no longer afford and which are worth significantly less than they paid for them and their current mortgages. Such homes are considered “distressed” properties. Such distressed properties cause tremendous stress and anxiety for their owners who feel they are facing the stigma of sure and certain foreclosure.
Fortunately most cases can be effectively resolved by promptly engaging the services of real estate agents who have been educated with the tools, tactics and information to help property owners who find themselves in these situations.
The Distressed Property Institute provides this education which includes; evaluating these situations, listing and marketing the properties, and effectively working with lenders. The CDPE certification is earned from the Distressed Property Institute upon completion of its formal course of instruction and exam.
A CDPE provides the following services for their distressed property clients.
· Presents all options prior to listing. In some cases a sale may not be necessary. Foreclosure is a very undesirable outcome and can be avoided in most situations.
· When home sales are needed, a CDPE agent has the know-how to price and sell the property in the shortest period of time.
· The CDPE also has the skills necessary to properly document the clients’ situations and work as expeditiously as possible with their lenders.
