1. The seller ends up modifying their loan and you the buyer are now trying to buy a home that is no longer on the market.
2. Everything is up to the bank... although the seller still has possession because everything depends on the bank saying yes - you are at the mercy and time line of the bank.
3. Even if the bank says yes but the seller can not handle the circumstances of the accepting the seller can say no.
4. YOU must have patience - a short sale no matter how well prepared everyone is can take a long time...they can also move quickly
H. Rawie, Appraiser