In real estate what does a "short sale" mean to a buyer?

MseMD

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I'm looking to buy a new home. I know what a "short sale" means for the owner of the home but I'm not sure what it means for the buyer. For example, if the house is listed for $80,000 does this mean that I should make an offer higher than that or could I get the house for cheaper than the $80,000? I realize that all sales are different but I was just wondering what is the general rule for buying a "short sale" house. Thanks for your help!
 
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