Hello, I do many short sales (check my just sold properties on my site) and the bank can take a long time to respond sometimes. Just check your contract to see if your attorney put a time limit in your contract so you can back out. The proposed closing dates in contracts are just estimations if all goes well. But there should be some type of deadline included so you can be protected.
Negotiations are not always easy. I presume you are working with an agent? Ask them how they plan to negotiate on your behalf. In regards to the Federal Pacific panel, many insurance companies will not insure these....it will most likely need to be replaced prior to being insured. Since the repair items are largely maintenance issues, I would provide them with estimate with your negotiations, so they can see that you are being very liberal with your request. Best wishes.... more