Snookie,

That's super that you got an approval, although the negotiators or asset managers never give an estimate of how long it will be. Like Grace noted it can be from a couple of weeks to a couple of months.
Just hang in there, not that many buyers get good news like that.

Best wishes,
Jes Sierra, B.Sc.
Realtor®

Oh, boy! I had one short sale approved in 20 days. That was just this July. I had another short sale just approved in August - and we submitted the package to the lien holder in February!!! Long story short, it depends on the lien holder, how many loans there are on the property, and how savvy the list agent doing the negotiations are. I recommend you choose an agent who has experience on both sides of a short sale (listing and buying) so that they know the right questions to ask, and how to spot a possible hiccup before you get your heart broken.

60-90 days is average (in my experience).

Short sales present some of the best deals in this market, so don't shy away - just get experience on your side!

Be well,
Grace