Some shortsale will take about 2 months while others may take years. We have submitted an offer on a shortsale late 2011 and my client gave up on the property by mid 2012. Seller tried BK, and loan mod. Delaying the process for months, today 2013 property hasn't sold yet. Thereâ€™re many situations involved. Liens, buyer, and lender approval.
Hope this helps. Let me know if you have any specific question
In one short sale I was approved by the bank in a month and the buyer closed escrow in 15 days, so a total of 45 days. I have heard some go over a year. It all depends on the bank, subordinate liens, and the buyer.