I have two short sales, one Chase is the first and they assigned to a negotiator within 10 days. I received my first response from them, cut commissions, remove home warranty, seller will not cover certain other fees so buyer will need to cover them.
The second SS Chase is the second but it was turned over to a collection agency and I have a few choice words for them. They are being very difficult. Wachovia is the first and they responded with 3 days. The reality of this one is that the Seller is fully prepared to let Chase loose it all as their only incentive for a short sale is to get the relocation allowance offered by Wachovia.
Then there is are Buyer's agent -- yet they specifically will not be discussed in this forum, except Buyers, be aware that your agent can break this deal if they are not willing to work or adjust where needed. The banks are taking a hair cut, the sellers have lost everything, the buyers may have to come up a bit on their cost, and the agents may have to cut some commissions. If all are cooperative it can happen.