While I know this answer will not be what you want to hear....it is, in fact.....the way it is. It might be a week.....and you might not hear for well over a month. In isolated cases, I have heard of a bank responding upwards of 60 and 90 days.
It depends upon if there are other offers, how long the property has been on the market, if the sellers' hardship package is complete, or if the bank is requesting more info, how much lower the offer is compared to the payoff, and how many other short sales or REO properties the bank is attempting to sell.
I wish I could be specific for you.........
Your agent can find out if the sellers have been diligent in preparing a complete hardship package w/ all details, or if the bank is requesting more info. The bank will not be receptive to your inquiry. I wish I could tell you something more specific....Short sales require patience.