This is for buyer agents - please tell your buyers how short sale are.  Ask them if they have the time to wait on the bank to decide if they are going to either approve, counter or deny a short sale request.  If they tell you they are looking for something with the next 30-60 days, advise them that a short sale just might be a little longer than that.  Now if it turns out that this bank works faster --- all should be happy. But do not assume this will be the case. 

Banks are taking and will tell you if you ask they are not getting to their short sale for 45 - 60 and sometimes over days.  Do not leave this information out and have the buyers waiting until they get tired and walk!  This is a set up for all invovled: the buyer, the agents and most of all the owners.

And that buyer should not assume that they can get extensions on a short sale!  Banks/sellers do not like extensions at any rate, but a short sale agreement will usually come with a clause that says they want their funds within 5 days of the scheduled close date.  Those 5 days are not free.... buyers will be charged!  And if the agreement does not close on schedule after those 5 days the agreement will be null and void.  Plus the bank will charge the buyer a per diem on the those 5 days!

Buyers stand a chance of losing their deposit if the transaction does not close.  Agents go over that short sale agreement with all parties involved.

(if this is not in Short Sale 101...... it should be!)