A short sale does not get approved on 7 to 10 working days. Don't get confuse about REO and short sales.

Short sales takes time, I have done short sales approvals in 21 days and others that its been 4 months and nothing. So if you really want the house, you might need to wait, if you need the 8k credit, you might need to check what is available. I recommend you to check with your Home Mortgage Consultant on yoru mortgage approval. Update documents is a good idea. Once the approval is given, most lenders will only allow 30 days to close.

Check with your Realtor about time frame.

Good luck.

We instruct our buyers if you don't receive a response when a bank is involved within 7 to 10 working days best keep moving on

Confer with your buyers agent however 60 day your lender approval has expired and you "creeping up on 11.30.09" receive your tax credit.

I would continue search determine what other homes are on market .

Did you "low ball offer" reasonable offers get attention low ball offers sit at best in stack or trashed.

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Lynn911

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This is a question best directed to your personal agent. He/she should have enough background on this situation to be able to advise you. Answers to these question may help you make your decision:

1. Has the "short sale" paperwork been completed and submitted?

2. Have the owners filed "a letter of hardship?"

3. Has the home been appraised by the bank?

4. Has a "loss mitigator" been appointed to your case?

5. Has the bank agreed on a possible price?

6. Is the bank taking calls and answering questions?

7. Does the owner have multiple loans?

8. Are there additional extenuating circumstances with this situation?

Good luck

The Eckler Team