How can a co-op be short sold?

brokers sometimes use that expression to make it sound like a deal. it doesn't really mean the sale is an actual short sale.

hojo58: A link to the listing would be helpful.

West81st: a reasonable suggestion but my neighbor might figure out it's me asking questions and take offense. Happy to provide any facts you would need to make your analysis.

"Hi, the listing for a neighboring apartment in my co-op says it is a short sale. How is this possible?"

Easy.

The apartment is listed at less than the owner owes on the mortgage.

Why is this so hard to understand?

Following up...

Keep in mind that it's just been in the past 24 months or so that property values have plummeted. Boards have no control over that.

hojo, at the point of being able to provide the needed facts, you will have already understood the situation.

NYCMatt has your board ever rejected a sale because the price was too low?

Of course not.

That would be illegal.

Good answer, nudge nudge