I would guess that the situation with short-sales varies immensely from community to community and bank to bank. A few years ago, paperwork on short-sales was the lowest priority for a bank, and it would take months. But now, I'd guess that most have their acts together and can process them. I'd be inclined to ask the realtor for experiences in closing these deals, and ask her about other agents in her office. Good luck!

Why are you even thinking you need to cancel?

Do you have an inspection contingency? Financing contingency?

You don't trust your realtor? If not, did you have a RE attorney review your contract to protect your interests?

Thank you for the replies! It puts my mind at ease. Chispa I just meant it in a hypothetical way that she might think we would walk away after the closing date passes :)

It really does not matter as far as the terms that are included in your offer, except for your offer price, because if and when they reply to your offer and you come to an agreement on the sales price, the lender will send you THEIR contract which will be much more seller biased than most state commissioned forms. This is not altogether a bad thing, it's just not going to be written up on a contract that you are used to.

Like others have said, do not second guess the timing or the reasoning behind the banks decisions or time line. Each property and each lender is very different. Your agent should have explained to you the pros and cons of navigating a short sale. You need to be patient and flexible; more so than a typical buyer who usually has a strict timeline.

KT, any updates on the sale? Hopefully everything goes well for you.

We are going to look at a possible short sale this weekend.