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Updated about 6 years ago on . Most recent reply

Marie O'Keefe's profile image
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Marie O'Keefe
  • Member since Mar 9, 2019
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Marie O'Keefe's profile image
Marie O'Keefe's profile image
Marie O'Keefe
  • Member since Mar 9, 2019
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Marie O'Keefe
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Local Real Estate Networking

NJ Wholesaling Short Sale vs Foreclosure

Marie O'Keefe
Posted

Hi everyone,

I am a wholesaler in New Jersey - my attorney told me shortsales in New Jersey are illegal to wholesale. I know that shortsales are dealing with houses that have negative equity, but I still don't fully understand what the difference between shortsale and foreclosures is. How do I know for sure if I am dealing with a foreclosure instead of a short sale? I don't want to get into any trouble.

Thanks in advance.

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