Short Sale Offer Taking Forever

[Zach Hawrot]

Over 60 days ago we placed a low bid on a house being sold as a short sale. The buyer immediately accepted. Now we just needed the bank to approve and the house was ours. Since this is a loss to the bank, they are taking their time, especially because the offer was under 10k. We've reached out to the realtor many times to speed up the process but each time he says they are still working on it. 

We also know that no one else has offered on the property so it's not a bidding war. 
Is this standard for a short sale? Does anyone have any means to speed up the process? 

The slow process doesn't affect our business. And all things considered, if we get it at this offer it's a heck of a deal. We would just like to speed it up one way or another but haven't been able to do it. 

[Brandon Roof]

This is unfortunately quite common and can take a number of months.  Not much is going to really speed things up on the banks end of things.  Having an experienced and responsive agent will likely put you on the quickest path, but quickest in this context is all relative.  It's more about how quickly they can navigate and turnaround any inquiries and paperwork from the bank.  Could be two months, could be ten.

If ever making an offer on a short sale, always go in with your strongest offer and not with the intention to negotiate.  The process is way too long and with the current strength of the market, banks aren't going to take too much less than the current value of the home.

Hopefully your process is approaching the endpoint.