First of all, I would get a buyer's agent. Sign a buyer's agent agreement with the agent...that way they have fiduciary responsibility to you and not the seller...they'll be working for you. In most states, the seller still pays their commission. You have a right to representation. It is too late to bring an other agent into this deal and expect the seller to pay their commission...because that agent was not the procuring cause of the sale - they don't have to pay them. Short sales are much different than the average sale and you'll need someone on your side to get through it.
I'm not sure what you mean by sales that are ratified. Do you mean submitted? If you mean accepted, only one deal can be accepted and the bank will work that one until completed or it falls apart.
Short sales aren't "approved" they are eligible. At anytime, the owners can make full payment on an unpaid amount or negotiate someother type of workaround that saves the home from short sale and or foreclosure....unless the home has already been foreclosed and then the sale is bank-owned REO and not a short sale.
An agent working for you should let you know if you are over paying for a property...Unless the property has been priced tremendously under value and it is in very good condition, I question why you are offering some $26K over list.
The highest offer isn't always the best. Did you make the offer contingent on selling your current home or on financing? the other offers could be cash and or non-contingent. Those make the deal more solid and more valuable -to the bank- as well as any seller.
If you need an agent to represent you in your area, I'd be happy to get one for you who specializes in short sales.
Good luck...Dana Tippit RE/MAX Midwest Group 314-651-9900 http://www.YourResidentialPartner.com
Banks seldom care about who is first or second - they care about the money. It sounds like you need to ask your agent about their experience with short sales and I would ask them how there can be multiple "ratified" contracts on 1 house!