Selling or Buying a short sale in Florida.
Sellers advantage on doing a short sale vs a foreclosure is the waiver by the lender of a defeciency judgement by the lender. Other wise the lender after the foreclosure can sue and obtain a judgement for not only the amount owed but also; all the added fees incured by the lender.
Buyers can purschase property in short sales under market value. The sellers, will accept any offer as the lender has to agree to it and the sellers will not obtain any money from the transaction.
Typically short sales have been taking around 12 months from beginning to end.