Good luck, this process can take a long time. I just recently had one that took over 90 days. The good thing is that there is no second loan that has to be negotiated. Keep on your agent to press for information but do not be suprised if you keep getting the same answer. Your agent knows about as much as you do at this point. Forty Five days is not that long for a short sale. Don't be suprised if it takes 90 days or more to get an answer. I always suggest to my buyer clients to put in a clause so they can cancel after 30-45 days so at least if they find something else they are not held hostage to the Short Sale process. Good Luck

Lori -
By accepted contract I mean a signed contract. inspections have been done. Escrow check was cashed 45 days ago. I have asked my Realtor for weekly status reports, and have only received two - both of which were " 15-20 more days". We even went to the listing Broker to request information. Of course, he pointed us right back to our Realtor. We are willing to be patient, but want to be assured that the necessary steps are being done to get this property to close. We don't want it to stall out.

Oh, and there is not a second lein. Only one leander (Wachovia).

Thanks,
Laura

Laura,
Was there also a second mortgage on the property you are purchasing? If so, this could cause more delays as a settlement also has to be negotiated with them before they will release a lien on the home. That process can take anywhere from 3 days to 30 days. Also, you say that you have an accepted short sale contract. Was this a verbal acceptance? The negotiator is usually the person that will verbally accept an offer but it then also has to go to the investors of the bank for final approval. This could add another 15 days to the process. Are you represented by a real estate agent on the buying side? Your agent should be able to get updates from the selling agent.