Question for short sale specialist in the southwest USA

[Richard Johnson]

My business profession is in engineering, however I'm in the process of trying to purchase a short sale home through my agent. As in most professions there are many processes to a successful completion of a project. And, in dealing with a short sale, I've read many horror stories during my research. My questions on the short sale process are as follows:

1) Assuming that all parties are working toward the sell of the home to the buyer, once the seller has agreed to the purchase, is it standard to request bi-weekly updates from the seller's realtor on the short sale progress, even though the banks/lenders hold the key to the approval process?

2) In this current market, what is an average completion time from the seller agreement date to the 1st, 2nd, etc. lender approval date?

3) If there is no average date for the above question, what would be a reasonable time period to expect this completion if accepted before a close-of-escrow date is set if both realtors are pushing for this purchase?

Thanks,

Come_on_Man
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