What are short sales?

A short sale  is when the outstanding loans and liens against a property, after closing costs are paid, are greater than the proceeds from the sale of a home, and the lender agrees to accept a lower payoff amount.  This occurs only when a home seller qualifies for a short sale through proving proof of hardship, and the lender agrees to a lower payoff amount.

Why is it to my advantage to do a short sale? 

A foreclosure can impact your credit far more, especially in the long term.  In fact, some banks don't report a short sale.  In addition, in the event of a foreclosure, in many states the lender will seek a deficiency judgement in the amount you owe.  They could even come after other properties and assets of yours, including vehicles.  Your credit could recover from a short sale in approximately two years, where as a foreclosure or bankruptcy can take 7-10 years.

Although there are over 70,000 real estate agents in the local Phoenix/Scottsdale market less than 1% can be considered a Short Sale Specialist or Certified Distressed Property Expert (CDPE).  Bonnie Burke is in that 1% and has been very successful in helping many homeowners avoid foreclosure by doing a short sale.  She has made a point to educate herself and everything she can regarding short sales, the process, and creating relationships to streamline her system to better benefit her clients.

Don't trust your financial future and the short sale of your  property to just ANY agent.  Experience is everything when it comes to short sales, even Realtor®  designations and weekend training classes are insufficient.  Bonnie Burke is a Certified Distressed Property Expert (CDPE) and has facilitated many short sales over the past year – let her put her expertise to use in helping you or anyone you know that may benefit by her experience as a professional real estate agent for over 27 years locally and her Short Sale expertise!