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It almost sounds as if neither agent has a lot of experience with short sales. Your agent should have explained to you short sales take time and the amount of time they take is a roll of the dice. No one knows how long it will take. The listing agent should have had continual updates for your agent, EVEN IF THERE WAS NO MOVEMENT on the file. Sometimes it can take WEEKS to have a file reviewed. I just finished a Chase short sale in which it took almost four weeks to assign to a negotiator, but each week, I updated the buyers agent to tell them it wasn't assigned yet.
The taxes will have to be paid at closing either from the proceeds or from you. Taxes trump mortgage. If the house has already had an appraisal, then you are more than 1/2 way there. The last part of the short sale is when the offer gets submitted to the investor for approval. Realistically the listing agent has been dealing with a negotiator that is a middle man. The negotiator usually doesn't approve the file and once all qualifications are met, the negotiator forwards the file onto the investor for final approval. If that's where you are at, you SHOULD hear something soon.
It's unfortunate the listing agent yelled at your agent, but this isn't a long time to wait for a short sale. It sounds like the file is progressing and you must be patient. I will say the listing agent needs to be a LOT more communicative with the process and that will likely ease your mind.
The homeowner gives authorization for either a negotiator and/or agent to gain access to critical information with the bank. I started one on 9/22/11. Even having two bpo's already, which is a little crazy, as of today, I'm still waiting for the investors approval. I can't even upload an offer until my BOA negotiator assigns me a task. So, basically two months, on my second negotiator, and my second bpo. You need to setup up a day each week for a progress report. Put in on your outlook calendar, or assign yourself the task. Even if you get "nothing to report", this will keep everyone on task. Please do not contact the bank personally. If they get too many phone calls, from various parties, they will just shut the file. The buyer agent should request an update weekly from the listing agent and/or the negotiator. Sometimes the listing agent could also be the negotiator, but not always.
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