That term makes me laugh every time I hear it.  Because it is anything but that.  I have the hardest time explaining to my buyers that want to put an offer in on one of these properties that they may not hear anything for several weeks as to whether or not they have an accepted contract.  I cannot understand however why it does take so long?  I would think that if the banks want to collect on these properties that they would want to move the process along a little faster. 

I have one Offer that's on the table now where the buyers are being very patient, but naturally we don't want to schedule any inspections until we know that we have an accepted offer.  Is there anything at all you can do to speed this process up with the bank?  Or does "bugging" them only make them irritable and they put it aside as I have heard horror stories to this account.  It seems that more and more buyers are hearing this term "short sale" because I have had several in the past month ask me in an initial interview if I have any properties that are "short sales".  I don't watch much television, but I'm assuming from their discussions that this must be another popular term on HGTV. 

If anyone has any advice on how to deal with the banks, keeping your buyers patient, etc. - I would greatly appreciate any feedback.  Thanks!