Florida short sales and foreclosures
What is the difference?
A foreclosure is a property that is bank owned. It can be purchased on an auction site with a realtor or from a listing on the mls. Typically Foreclosures are sold as is. No representations by sellers. It might be listed as corporate owned. Or as a Fannie Mae home path. Make sure to do a home inspection.
Shoert sales are homes that are still owner occupied. The lender is in the process of foreclosing. These homes sell with the contingency of lender approval required.
Things to keep in mind with a short sale are: Make sure there is only one lender, that there is a negotiator and the buyer may have to wait up to a year for a response