Please see my blog for tips on buying a short sale
Unfortunately no, the bank may not accept the offer. The lender(s) involved have the final say on the selling price; not the seller.
The bank may accept the offer, flat out reject it, or give you a counter offer. The process of obtaining an accepted offer from the bank may be lengthy so be prepared to wait a few weeks for a response.
I encourage you to work with a real estate agent who is experienced in the short sale process so that he/she can advise you on the process and keep you informed.
Good luck to you!
Prudential Connecticut Realty
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
The way a short sale works is the buyer and seller agree on a price and then the bank has to agree. The bank will get an appraisal and make the decision from there. The bank will also be deciding if they will accept the seller for the short sale. That's why it's important not to be blown away about some very low listing price as the bank will be expecting something close to value, but they will typically conservative.
good luck to you!!
Pappas Realty & Management Co.
Clearwater Beach, Fl 33767