Hi Dylan,

Has your agent told you how much they owe on the house? Has a negotiator been assigned yet? Has the bank already ordered a BPO? I am dealing with several short sales right now and I am told by the banks such as Chase, Countrywide and Citibank that each negotiator is handling about 500 files. This is one reason why the process takes so long. If the file is incomplete they just move on to the next one.

It is very important that the listing agent is experienced at doing short sales so they are prepared to submit all the documents in a timely manner. There isn't much your agent can do except call and ask for an update from the listing agent.

It is also very common that the owners moved out of the house.

Naima
214-289-8555
Naima@Sumner-Realty.com

Hey Dylan, sounds like another short sale fiasco, it runs rampant. Any veteran Realtor will tell you that short sales handled by large banks are really not for the typical buyer unless you know what to expect and can sit and wait. It does take alot of time, and many times you'll be dealing with competing offers by the time the bank gets around to looking at the file. When you say the bank "accepted" the offer, did they really, or was the offer made and you are waiting?

It is ashame that short sales work the way they do, it only adds stress to buyers and their agents, no wonder people are quitting the banking industry. You can always withdraw your offer and move on if they have not truly accepted it and signed off, and my bet is they have not. I'd find that out first and make the decision, Bless your heart, as they say...