Do you currently have an offer on your home for sale? Typically the lender wants as little red tape as possible on Short Sales. There could be multiple offers so they are going to choose the most attractive one. I have a few ideas..... http://www.karenmordus.com

Brenda, most likely not. YOu see the bank has final approval on the offers so if the seller accepts the mortgage company can reject.

On a "short sale" buyers need the agreement with both the present owner and the lending institution(s). Eventhough you may be able to get the owner to agree to a "contingency," it's highly unlikely that their lender will approve.

On the other hand, can anyone accurately predict what course a bank will take?

While you can always try and put in an offer with a contingency, the likelihood is that the bank will not accept this offer. The bank is not in the business of selling houses, they want the property off their hands as soon as possible for the best price possible.

When given the option between an offer that is all cash and one that is contingent on getting a mortgage, the homeowner will likely choose the cash offer even if it is for a bit less then the offer contingent on the mortgage. This is because the offer accepted by the homeowner must then be accepted by the bank. The key to short sales is closure. The homeowner doesn't want to get to the point of foreclosure so they want an offer that is certain. When there are contingencies nothing is certain, especially in this market.

Brenda,

The answer is no. Banks will not accept contingencies.

If I can help you with any of your real estate needs, please don't hesitate to give me a call at (302) 540-5373.