Short Sales vs Foreclosure

We are walking through a typical distressed, foreclosure property in central Phoenix. As a buyer or a seller, you need to know your real estate competition whether the property is a foreclosure or short sale. Here are a few of the main differences between short sales vs foreclosures

*foreclosures are sold in as is condition, short sales there is more room for negotiations as it relates to repairs.
*foreclosures typically will close 30 days from contract acceptance vs short sales which average 3 to 6 months
*generally short sales are going to be in better condition than a foreclosure property because typically the house has not been abandoned.

Whether a house is listed in Phoenix, Gilbert or Avondale, you as the client need to know the difference between short sale and foreclosure. In this distressed Phoenix market, price and condition of the home really matter. At Short Sales Done Easy, we understand how to price homes in this distressed market.

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