Find Short Sale Homes Near You

What Are Short Sales?

A short sale is a real estate transaction where the lender agrees to accept less than the total amount owed on a mortgage in order to allow the property to be sold. Short sales typically occur when a homeowner is facing financial hardship and cannot continue making mortgage payments.

What Happens During a Short Sale

In a short sale, the homeowner still owns and occupies the property, but the outstanding mortgage balance exceeds the home’s current market value. Rather than proceed with foreclosure, the lender may approve a discounted payoff to resolve the loan.

• Process Lender Approval Required

  The sale price must be reviewed and approved by the mortgage lender.

• Ownership Homeowner Still in Possession

  The borrower remains the legal owner until the sale closes.

• Status Financial Hardship

  Missed or pending payments have triggered loss-mitigation options.

Why Short Sales Create Buying Opportunities

Short sales can offer opportunities for homebuyers and investors because lenders are often motivated to avoid the costs, delays, and uncertainty of foreclosure. While approval timelines can be longer, successful short sales frequently result in below-market purchase prices.

• Negotiated Pricing

  Sale prices reflect lender loss-mitigation goals, not market peaks.

• Traditional Closings

  Buyers can often use inspections, title searches, and financing.

• Mutual Resolution

  Borrowers, lenders, and buyers all benefit from avoiding foreclosure.

How Short Sales Differ From Foreclosures

Unlike foreclosure auctions, short sales allow buyers to work through a standard purchase contract. The lender reviews the offer, confirms hardship, and approves the payoff amount before closing.

• Borrower Relief

  Homeowners may avoid foreclosure and reduce long-term credit damage.

• Lender Loss Reduction

  Lenders avoid property ownership, maintenance, and resale expenses.

• Buyer Flexibility

  Purchases are not rushed by auction deadlines.

Finding Short Sale Listings

Foreclosure.com provides access to short sale listings across . Our database includes short sale and distressed properties spanning hundreds of counties nationwide.

Listings are updated regularly as lenders approve new opportunities. If you do not see a property that fits your needs today, sign up for our email alerts to be notified when new short sale listings become available.