If a vacant home is offered for sale as a Short Sale it will certainly be vacant for many weeks, maybe months. The banks just do not seem able to respond in a timely fashion to proposed short sales and even when they do respond it will take a very long time, particularly when more than one bank is involved.
Bernard Gibbons, Realtor, e-PRO Certified Internet Specialist
J. Rockcliff Realtors, 15 Railroad Avenue, Danville, CA 94526
Phone (925) 997-1585
When dealing with a short sale, you are first dealing with the seller and then the bank. In a foreclosure, you are dealing directly with the bank. This is where the question "which remains on market longer" comes into play. If it's a short sale, then there are two parties you must deal with and sometimes one of the parties (the bank) may take some time to complete the process. In a foreclosure, you only deal with the bank and they are generally more quicker to sell the property to take it off its books. Banks are not in the business to sell and buy property-they are in the process of lending.
Hope this can shed some light on your question.