I am sorry to here this, but as Benito stated I would say between 60%-70% of offers on Short Sales back out or purchase another home so it appears the agent is backing himself up. Now if the home prices in the area you purchased have risen then the agent and the bank might want to create a multiple offer situation to drive the price up. I would have my agent contact the listing agent and find out 1. did the bank want to see more offers or is the agent just getting back up offers? 2. Is your offer the only one at the bank? 3. Do you have a signed contract from the seller? 4. Has the agent previously posted the listing as Pending? 5. Is he taking the other offers as back up or are they going to the bank also? After I found out what the score is about this you can best judge what to do next. One word of advice on Short Sales under no circumstances are you to STOP looking and writing offers on other homes too many times I have one thing or another happen to my buyers on Short Sales and the deal fall through and I end up with an upset buyer who fell in love with the home and now can't have it. Don't let this happen to you KEEP LOOKING and Don't fall in love with a home until it closes escrow.
I wouldn't stop looking. Something better may come along before your current transaction ever gets approved. You're in the "cats' seat" with an all cash offer.
Real Estate Broker
CA DRE #00957311
Check with listing agent that new offers are back up offers.
Listing agent duty is to have a willing , pre approved and capabole buyer at Short Sale approval time.
Have you express a feeling of this is taking to long?