A Short Sale is where a home owner who is in a distressed situation due to a loss off income, that causes them not to be able to make their mortgage payments, petitions their lender to allow them to sell their home for a lesser amount than they owe on the home. Usually this happens because the home is no longer worth what the owner owes on the home, thus making it impossible for the home to appraise for what is owed on the home and making a retail sale impossible. Buying doing a Short Sale the hit to the home owners credit rating is not nearly as bad as if the home were to go into Foreclosure. Buying a Short Sale can take longer than buying a Foreclosure or a retail sale, because not only does the home owner have to approve the offer on the home but the bank also has to approve the offer and this can take a long time. This is due to the economic downturn, lenders have have not been able to keep up. So if you are thinking of buying a Short Sale because of the savings offered , please bring your patience, you can not be in a hurry to close and invest in a Short Sale, they can tale 4-6 months or longer to close, depending on the lender. If you would like to invest in a Short Sale and wish to see all of the properties offered just click on the SHORT SALE TAB.