A short sale is when a homeowner sells for less than they owe, with lender approval. The lender accepts less to avoid foreclosure. Short sales can offer below-market prices but come with longer timelines (2-6 months for lender approval) and uncertainty.
General Real Estate
What Is a Short Sale?
Patrick Kevin FaganUpdated August 18, 2026Patrick's Take
"Short sales can be great deals but require patience. I have helped clients close short sales that took 4-5 months for lender approval. If you are in a hurry, it is not for you."
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Patrick Kevin Fagan
Loan Officer and Realtor · AXEN Realty LLC
Sales Agent · 454749 · TX
Considering a Short Sale?
Patrick can help you evaluate whether a short sale is right for your situation.