“…Scholars have averred that the sale of distressed properties is mostly carried out within limited period of time known as short sales, and at discounted prices (Allen et al, 2022;Chow et al, 2015;Daneshvary et al, 2011;Downs and Xu, 2015), which entails foregoing the benefits of arms length transaction in exchange for a timely aversion of ever increasing financial obligations that are associated with the primary transaction which the property was used to secure. This is contrary to the sale of distressed properties by private treaty, which entails arms length negotiation and transaction using broker channels, some scholars have reported how distressed properties have been "efficiently" sold within a limited period of time through short sales (Allen et al, 2022;Daneshvary et al, 2011;Downs and Xu, 2015), with a corresponding reduction in the time-on-the market (TOM). In other situations of secured lending, distressed properties were sold pursuant to a foreclosure and acquisition by the lender (Allen et al, 2022;Clauretie and Daneshvary, 2011;Mallach, 2014), and with TOM that is inversely proportional to the selling price on one hand (Ajayi, 1997;Anglin et al, 2003;Bello and Olusola, 2018;Benefield et al, 2014;Taylor, 1999), and directly proportional to property market conditions on the other hand (Filippova and Fu, 2011).…”