If a property you offered on ended up going into foreclosure…

[Sara Tranum]

How does one offer or inquire about a short sale?

Background: I offered on a condo (still a newbie to investing myself, although this would make my third STR and second in one market), and the same day a second offer came in, higher. Sellers went with offer #2. Those buyers ended up backing out during the due diligence period. (Yes, I know why.)

The condo has now had foreclosure proceedings started. I’ve not bought anything out of foreclosure, and I’m curious about how others have done this.