It concerns me when you say "the" Realtor and not MY Realtor. Hopefully your have a Realtor working for YOU as a Buyer's Agent, and you are not referring to the listing agent.
Short sales are very complex and it sounds like you don't understand the process or have the correct terminology. When you put an offer on a property, the seller needs to accept the offer (not the bank). The contract gets passed along to the bank and the seller requests a short sale. The bank has to approve the short sale in order for the transaction to happen. The bank can either accept, reject or counter the purchase price, depending on what they stand to "net" out of the deal, and depending on the value of the property. Your agent should have explained the entire process to you.
Once you get Short Sale Approval (SSA) from the bank, you typically have 30 days to close. That's when you'll want to get the home inspected, perform all due diligence, and your lender will require an appraisal. Again, your agent should be able to explain everything to you. Good luck!