Dawna,

Have your agent contact the listing agent to find out why they have not changed the status to "pending." They should be able to provide a clear explanation.

Good luck

The Listing Agent may be waiting for the signed copies of the short sale approval before putting it into Pending status. The listing will not show Closed until you've signed the paperwork and the deed has been recorded. Ask your agent for a copy of the paperwork signed by the bank for your records. Sometimes you can get a verbal approval while the signatures are slow to follow.

It all depends on listing agreement. In most instances once a home has an executed contract home updated in MLS within a reasonable time, any other offer submitted would be considered as a back up offer.

Buyer and seller has performance clauses during entire time of sales contract thru closing therefore all parties have to follow those terms and conditions OR risk being sued.

Lynn911 ~ National Featured Realtor

No. The home must go into contract before the bid is submitted to the bank for approval. Speak with your attorney, or someone that is familiar with short sales in order to help you understand this process. Good Luck! If you need anymore information, please feel free to call me @ the number below.

Carolyn Toscano
Prudential Douglas Elliman RE
Manhasset
(917) 939-6192 Cell
(516) 627-9207 Office

Dawna,

It may take some time to get the contract back from the seller. At that point MLS rules require it be marked pending.

Thanks,
Patrick J. Canaan
Keller Williams Advisors