You should review this with your Realtor and go over the contract for an exit clause. If you have not done the inspection yet, this would be a time tor responsd with the Buyers response note flaws and exit the contract or ask for a price reduction to cover the noted flaws in the inspection.
May I wish you the best.
Jeff Masich, Realtor
If you go to your contract you will probably find a provision that states that the bank has the right to change their mind pending senior management final review and approval.
This is pretty standard with most bank owned properties and you probably shouldn't be too concerned with that. In my experience it is very unlikely that they will back out of the deal once they have signed the contract. Even if they do receive a better offer.
Having said that, why are you asking this question? Did you have any indication that they may cancel? Just curious.
Jose Dias, REALTOR
Realty One Scottsdale