Short sales are when the bank or loan officer lets the home owner have the opportunity to sell their home before they put the home up for foreclosure.
This requires lots of time and papers, although it does salvage the credit of the person who home owner. When a home is up for short sales, the home seller is more eager, and they might be more flexible with the price.
Short sales are a great deal if you’re looking for a good deal on a home. The homes show up in the foreclosures, yet they are different. Ask your agent if the home is a short sale.