The Real Deal Miami

Foreclosure could trump short sales

September 26, 2008 08:30AM

As home prices fall, buyers whose homes are worth less than they paid for them may find that the difficulties of so-called short sales outweigh their advantages. Ultimately, foreclosure could be the best of a bad set of options. Palm Beach Gardens broker Tony Macaluso says short sale transactions aren’t always the best deal for sellers or agents. Short sales are a minefield, and about half are never approved by the bank. Those that do close are filled with headaches, he says.