However, in general terms, yes all offers can be submitted even when a property is in a contingent status. It may likely be held as a back up offer in the event the current Buyer contract does not work out. Thanks.
Generally a foreclosure property has one accepted offer by the bank. If it falls through, there is a possibility that the listing will become active again and the lender will entertain offers.
You should discuss this with your Realtor, and lenders vary as to how they will select offers. The listing Realtor is usually knowlegeable of their client's process.
Mary Horesco, Realtor
"Outstanding Performance Award Winner"
Downing-Frye Realty, Inc.