The short sale process may take several months for the bank to accept a contract. I'm going through one now where the original offer came in in December and the bank hasn't approved anything yet--3 offers later! I do let any agent who wants to show that we do have several offers that are under consideration by the bank. That's the only fair way to do business! NJ is a full disclosure state.
Hang in there, stay in touch with your agent.
If you add back the "short sale" status, does it really change things? I think not. So, unless there is a written confirmation of acceptence of the offer by the lender, the status should still remain as active.
I agree with the previoius posters. While some county MLS systems have a "pending" option, the Momounth/Ocean MLS does not.
It has been my experience that most listing agents have been upfront about the contracts (and/or the # of contracts) under review.
The only options in the Monmouth/Ocean MLS are Active, Under Contract and Sold. It would not be listed under contract until the lender approves the short sale.
Short sales can be long, stressful transactions because the banks usually take many weeks to months to review and approve short sales. It is also possible that after they review the package and offer they deny the short sale, you just don't know. Unfortunately the bank is in control of short sales, the best thing is for the real estate agents to follow-up often and be persistant.
626 Route 9 South
Freehold, NJ 07728