One of the lien holders has approved the short sale, now you're waiting for the second lien holder to approve the short sale. Each bank handles short sales in it's own way. Short sales are not for the impatient buyer or for anyone who expects things to be done in a way that makes any sense. On the Buyer's side a few of ours have gone very smoothly and closed quickly, most have been a bit annoying but have worked out and take about 60 to 90 days and two have been night mares. One of those nightmare transactions did close and after all the trouble the buyers are extremely happy with their deal. The other one after six months of waiting on the bank, the bank decided to foreclose and not sell short. Fortunately I found another property that wasn't even for sale for that buyer and we're closing next week. My buyer likes this one much better anyway.

I hope yours is an easy one!

Sandy Kinslow
The Kinslow Team

It is a First and a Second Loan. Waiting on lender's approval on sencond mortgage.
Brian