What is a short sale property auction? 

A short sale auction is one in which properties are sold for less than what sellers owe on a mortgage.  

Short sale properties usually occur when the seller is under financial distress and can’t keep paying the mortgage. Under a short sale arrangement, the seller will sell the property to a third party and use the profits to pay the lender.  

Short sales can often take longer to process because of the amount of paperwork involved.  

Learn more about short sale properties here. 

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