Home › Forums › Closed Forums › Buying and Selling RE › Definition of a Short Sale? › If all liens and fees total
If all liens and fees total more than the sale price, then it could be a short.
Sometimes sale price is below FMV (especially for shorts).
If the seller is behind on payments but has equity, then it is a distress sale, not a short sale.
By definition, no lender approval would be required.
