I'll give you the same advice I give my buyers who are interested in considering short sales - get your hat in the ring and then continue your search. It is very likely that it will take months for you to hear back from the bank. And if the seller is resisting and not cooperating, then your short sale may go no where.
Keep looking while you wait.
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Your offer has not bee accepted then recommend move on search for another home . It could take weeks determine if bank will consider your offer.
Surprised listing agent is not more involved.
National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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I'm glad you have an agent....they will help you through it.
Either way....it's seems stalled and that is only going to cost the buyer time and maybe, money.
You have a problem.....and possibly a seller who just wants to buy time. It's certainly understandable, but not good for you as the buyer. Are you using a Realtor? Let them help you motivate the seller. I hope that you have not put any money into escrow on this....but either way, I would keep looking. If this works out, and you have not found anything better....that's great. But if the sellers won't get the bank what they want....this can take a very long time.
sorry....let us know how it turns out.