What is a Short Sale Condo?

Sometimes, to avoid a foreclosure, banks will let owners sell their condo for less than they owe. The bank takes the proceeds of the sale and allows title of the property to transfer to the buyer. The seller is usually not off the hook though, as the bank will still hold them liable for the difference. The bank has the final say about whether or not they will accept an offer on the property; the seller cannot make that decision. That's why you'll often see verbiage like "Short sale - subject to lender approval" in the property description. These closings can take a while, but if buyers are patient they can purchase these condos for a fair price.

Short Sale Condo Listings

All Listings $700,000 - $800,000
Price, High to Low
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1 Properties Found.
Photo of Listing #ML81763381
  • Active
  • $760,000
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  • MLS® #: ML81763381
  • 1417 Allegado Aly
  • SAN JOSE, CA 95128
  • 3 Bed, 2 Bath, 1,393 SqFt