Homeowner

Bank or Corporation

Homeowner

Developer

Heirs

Owner

Seller, buyer, agents

Asset manager, buyer, agents

Seller,buyer, agents, seller’s, lender(s), servicer, negotiators, PMI company, etc.

Developer, buyer, agents

Heirs, court, lawyers, buyer,  agents, etc

Auction house, seller, buyer, agents

Usually priced higher, negotiable

Usually priced at the lower-end of the spectrum, negotiable

Price is usually “fake”. The seller’s lender approves the final sales price

Usually priced higher, negotiable or concessions given

Usually priced at the lower-end of the spectrum, negotiable

Starting bid is low

Quick (with homeowner)

Fairly quick (with asset manager)

30-60 days or more

Quick (with developer)

Complicated if court is involved

Highest bidder wins unless there’s a minimum bid requirement

Yes

Yes

Yes

Yes. Sometimes you can get seller concessions if you use their lender.

Yes

Yes

Usually negotiable

Ask for repairs upfront

Rare, but sometimes lender will consider

Yes

It depends

No

30-45 days

30-45 days

2-6 months+
Each transaction is different – like a snowflake.  Not all short sales are approved by the seller’s lender(s)

30-45 days

30-45 days

Usually occupied

Usually vacant

Usually occupied, many occupied by tenants

Vacant

Usually vacant

Usually vacant

Usually in good condition

Usually not in good condition

Usually not in good condition

New!

Usually not in good condition

Usually not in good condition