What Does An Approved Short Sale Mean?
Short sales are a complicated process, the wait for short sale approval can be very long, and sometimes buyers lose patience. Another little quirk about short sales is the fact they are often priced under the comparable sales. Some agents list them low purposely to attract multiple offers. Therefore, the offer a bank accepts might be much higher than the list price because sellers often pick the highest priced offer.
Here is a quick overview of the short sale approval process: