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Vanessa, Home Buyer in South Florida, FL

On a short sale, does a bank review all offers received or do they have to turn down one offer in order to

Asked by Vanessa, South Florida, FL Tue Jun 3, 2008

see the next one?

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In my experience (and it will often depend on the banking institution), they don't necessarily want to see all the offers. They want you to submit highest and best. They make take all the offers you submit but they will focus on the highest net to them - as long as the buyer is strong with a good down payment and good credit.

If they don't approve that offer they will likely set a short sale acceptable price for the agent to take back to the marketplace. Just know that there is no standard answer necessarily. It's frustrating for buyers, agents, and escrow officers. Hang in there.

Also - sometimes the Short Sales aren't always the great 'deal' they seem. Sometimes you can find a motivated, traditional seller. That way - you have an answer in 48 hours or so.
0 votes Thank Flag Link Tue Jun 3, 2008
The bank can wait for as many offers as they want before they choose to give an answer.
0 votes Thank Flag Link Tue Jun 3, 2008
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