Primer: Pre-Foreclosures and Short Sales
We’ve all heard about foreclosures for some time now. But what about pre-foreclosures? That’s different. What does it mean? Probably, just what you think it means. We’re talking about a property that’s not yet into foreclosure officially. The owner of the home is simply late on their payments. A type of pre-foreclosure where the owner owes more money than the home is worth is called a short sale.
![Photo of a pre-foreclosure home](https://www.trepryor.com/blog/wp-content/uploads/2019/12/home-indian-springs.jpg)
In this article, we’re going to cover four important aspects of purchasing a pre-foreclosure or short sale property.
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