Traditional Sales vs. Short Sales And Foreclosures in Florida
Home sales in Florida often involve three routes: a traditional open-market sale, a short sale, or a foreclosure/REO taken back by the lender. Each can work for buyers, but the trade-offs differ. Traditional sales usually offer clearer disclosures, predictable timelines, and homes maintained for owner-occupancy. By contrast, short sales and foreclosures may advertise lower list prices, yet discounts can be offset by as-is condition, longer approvals (for short sales), competition from cash buyers, and potential repair, lien, or occupancy issues.
If you’re purchasing in Florida , start by clarifying your objective and financing. Are you buying to live in the home long term, or seeking an investment where value-add repairs and holding time make sense? Traditional listings fit buyers using conventional, FHA, or VA loans who need appraisal/inspection contingencies and a set closing date. Short sales can take months while the lender reviews hardship and net proceeds—best for patient buyers who can tolerate uncertainty for a potential discount. Foreclosures (pre-auction, auction, or bank-owned) tend to move quickly and sell “as-is,” rewarding buyers with cash or strong renovation financing and fast due diligence.
The “best” choice isn’t just the cheapest sticker price—it’s the option aligned with your budget, timeline, risk tolerance, and renovation capacity. Below, we compare Short Sales and Foreclosures in Florida across price, condition, timing, financing fit, and risk so you can choose the route that actually gets you to the closing table without surprises. Use this guide to Short Sales and Foreclosures in Florida to set expectations, plan underwriting, and match your offer strategy to the property’s stage and condition.
Traditional Sales
This is what first comes to mind for most of us. Traditional sales involve a seller and a buyer who agree to sell/purchase the property for a specific agreed-upon price. Although there may be circumstances causing the seller to sell, she is not being forced into it by a lending institution, as is the case with short sales and foreclosures in Traditional Sales vs. Short Sales And Foreclosures in Florida .
Short Sales
With short sales, the money from the sale isn’t enough to fully cover the amount owed on the property, hence the term “short.” Because the seller has to get the lender to approve the sale price, there is nothing short about the amount of time a short sale takes. What a short sale does is allow the seller to avoid foreclosure. For buyers who are willing to wait after making an offer, short sales can yield some good deals.
Foreclosures
If a homeowner fails to make mortgage payments, the lender can issue a foreclosure notice, which states that the property will go into foreclosure after 90 days. If the payments aren’t brought current or payment arrangement isn’t made, the property goes to auction where individuals and companies can bid on it (usually with a set minimum bid). Often, the lender will take the property back with the intention of reselling it.
Typically, foreclosures are great for buyers looking for good deals, but the complexities of the transaction can be pretty daunting. In fact, it can get downright ugly at times because people are being forced to give up their home. Owners are sometimes forced into foreclosure sales owing to things completely out of their control like an extended illness, job loss, or divorce.
Foreclosure can be painful for the homeowner, but good news for the deal-hunting buyer. The bright spot for sellers is that they can exclude canceled debt from their income tax returns, and they no longer have to make mortgage payments. The entire process can take several months, and the house is theirs until everything is finalized.
Observations About Short Sales and Foreclosures
Short sales typically take much longer to close than a standard resale. They involve extra documentation and extended back-and-forth with the seller’s lender. When you submit an offer, the seller may accept it, but the lender must also approve since they’re agreeing to a loss. If the lender declines, you’re back to square one. As a rule of thumb, short sales can take 3–6 months to finish, while many foreclosures (REO) close in about 30–45 days once an offer is accepted.
Keep in mind that many short-sale and foreclosure properties have been vacant and may show deferred maintenance. They’re often sold as-is, so buyers should budget for repairs and due diligence. The upside: if you’re willing to invest time and some elbow grease, you can unlock meaningful value.
So which path fits you in Florida —traditional resale, short sale, or foreclosure? It comes down to your timeline, financing, and tolerance for renovation risk. If you prefer predictability and need mortgage contingencies, a traditional sale usually fits better. If you’re patient and comfortable with uncertainty in exchange for potential savings, a short sale could work. If you can move quickly and handle property condition issues, a foreclosure may offer opportunity.
When in doubt, lean on an experienced local team. We can outline the trade-offs, run numbers, and help you choose the right approach for your goals. Call us at +19738321791 and we’ll walk you through next steps.
Interested in Traditional Sales vs. Short Sales And Foreclosures in Florida short sales or foreclosures? We can help! Contact us today for more information! +19738321791
“Short Sales Explained: How They Work and What to Expect (CFPB)”
Traditional Sales vs. Short Sales And Foreclosures in Florida
Traditional Sales vs. Short Sales And Foreclosures in Florida
Traditional Sales vs. Short Sales And Foreclosures in Florida