Have you come to the internet searching for information about short sales? Well all they hype about all the pre-foreclosures is open for anyone and everyone who wants to begin profiting from this market. However before you even try to purchase a home; you want to first understand how the entire process works.

What is the definition of a short sale? This is when the homeowner is in default on their loan and the bank does not want the property; so therefore they are willing to take a discounted price on the loan. Even though this sounds simple the truth is that going through the entire process can take several weeks to get the bank to accept the offer.