Is a short sale still an option if the foreclosure has taken place?
Yes. You can still get a lender to agree to a short sale offer if the homeowner is still within their confirmation or buyback period. You can research your state to find out if you have a certain number of days or weeks where the homeowner can come back and purchase the house from the lender after the foreclosure. Hence the lender would not get a new sheriff deed until the homeowner's confirmation elapsed. The lender at their option can agree to a short sale offer instead of accepting the full amount for the loan payoff. This rarely happens because the offer for the short sale is usually LESS than what the lender is willing to accept since they did not postpone the auction and allowed it to go through the foreclosure and sheriff auction.