What outcome does a short sale typically aim for?

A short sale is a real estate transaction in which a property is sold for less than the amount owed on the mortgage. The primary goal of a short sale is to obtain the lender's approval to accept the proceeds from the sale as full satisfaction of the outstanding mortgage debt. This option is commonly pursued by homeowners who are struggling to meet their mortgage obligations and are facing the possibility of foreclosure.

In a short sale, the seller, with their lender's consent, seeks to minimize financial loss by allowing the property to be sold for less than the remaining mortgage balance. This process can also benefit the lender, as it may be a more favorable option compared to foreclosure, which often entails additional costs and time.

The other choices highlight different concepts that do not align with the primary purpose of a short sale. Selling a property above market value is contrary to the nature of a short sale, where the sale price is often lower than market conditions due to the sellers' financial distress. A fast sale to avoid foreclosure may be an outcome of a short sale, but it is not the main aim. Additionally, the simple transfer of property title does not account for the complexities involved in a short sale, including negotiations with lenders and potential debt forgiveness. Therefore, the correct answer captures