Best of luck.
Another approach is having your agent submit a written letter indication that should the present transaction not work out that you would appreciate being made aware immediately. Agents generally appreciate this because it provides them with a possible back up plan. This type of arrangement will also leave you in a position of being able to explore other options without being committed to an agreement that may never come to fruition.
Ginancing falls out all the time, I've seen houses go into contract 2 and 3 times before they close especially the fannie and freddie houses that favor owner occupants that are usually fnanced.
This is a common short sale situation, where the seller has accepted the contract but waiting for their bank to approve the contract. Many, many buyers walk during this wait. So, if you are in place with your backup offer, you have a deceht chance of stepping in.
Arizona Homes and Land
Owner of MoreChoices Real Estate LLC
If I can be of assistance, my contact information is below.
Milly Sells AZ