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by CareyBot

Q: On Sept. 28, we made an offer on a short-sale property where a previous buyer "walked out," but it says "approved short sale." My question is: Why is it taking so long for our approval? We have been prequalified already and we even made a much higher offer than the previous buyer. Is my agent not as aggressive? --Maria A: There's no such thing as a listing that is a truly approved short sale. I generally see this description on homes that were previously in contract to be sold as a short sale, when the bank approved the previous contract and the seller's short-sale application, but the deal later deal fell out of escrow.Often what happens is that the previous buyer makes an offer, the seller submits the short-sale application and then the bank takes months...