Foreclosure Vs. Short-Sale


  • You make the deal with the bank directly, no middle men.

  • It is a signed deal that is agreed upon, no more negotiating.

  • Short-Sale

    • You make the deal with the seller, who tries to make a deal with the bank through negotiators

    • It is a signed deal, but a deal contingent on approvals of the bank, so negotiations or denial all together are common.

  • BOTH will cost you more money to purchase vs. a traditional sale

    • Attorneys fees are higher because they do extra work

    • The buyer picks up some costs traditionally associated with the sellers like survey

    • General fees charged to the buyer by the banks for the opportunity to purchase that property