The short answer is "sometimes". Many people hear the phrase "short sale" and instinctively think of a seller that is in default and needing to sell their property promptly to prevent further financial problems. This is occasionally the case and can be an opportunity for a buyer to take advantage of another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current with their mortgage, but property values have declined. In cases such as these the reduced price may in fact be consistent with true market values, not below.
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