Deals frequently fall through due to bank rejection or foreclosure. Potentially lower closing costs. Approval can take 3 to 12 months. Critical FHA Property Standards
“Typically approval letters are good for about 30 days and FHA loans take longer to process so an extension on a potential approval letter may be needed to close.” BiggerPockets · 5 years ago buying a short sale home with fha loan
Must have working utilities (water/heat) and be free of active infestations or black mold. Deals frequently fall through due to bank rejection
Community consensus highlights that the "short" in short sale refers to the bank's financial loss, not the timeline. not the timeline.