Sometimes. Many people hear the term "short sale" and automatically think of a seller that is in default and needs to sell their house promptly to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to make the most of another's misfortune. More commonly, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In these instances the reduced price may in fact be consistent with true market values rather than below.
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