"The government, along with lenders' growing willingness to limit losses by avoiding foreclosure expenses, has pushed short sales to the forefront, although the jury remains out on whether that process moves more quickly now than it has previously.
Anyway, I cautioned my
colleague against buying a foreclosure, an endeavor still best left to
the pros, especially experienced investors.
Donald Sepety of
Prudential Fox & Roach in Collegeville, who specializes in
foreclosures, maintains that his biggest job is getting prospective
buyers to understand that they'll be acquiring the property as is."