short sale, buying a short saleForeclosures and short sales are significant opportunities to save money on a home purchase. Of the two choices, the short sale is often the better option to pursue, because these homes could be in better condition than the foreclosed homes. As a general rule, they are priced about the same, and when you buy a short sale, you prevent foreclosure. If you want to feel good about the home you purchased with regard to the past owners, buying a short sale would be the way to go. Preventing a foreclosure helps the former owners a great deal by not ruining their credit.

People who move out of a home they had to sell through the short sale process are much more likely to leave it in good condition inside and out than people who have to simply walk away because they can't afford the payments. The odds are good that the people selling the short sale home will make sure that everything in the home works, and the condition is good when they leave. The yard is likely to be well maintained, which saves a lot of work once you move in.