If that is the case before a Short Sale negotiator can work on the file it has to be removed from the BK either by the sellers or through a Lift of Stay. (Check with an Attorney regarding this.
But if the property is not under Ch13 or a Ch7 (Chapter 7's usually 3 months to discharge).
Even if the previous lender approved the Short Sale it is buyer specific. Meaning if your names not on the form the bank can come back higher lower etc.
Cash is a strong offer but often times depending on condition and BPO (Brokers Price Opinion) or Appraisal the bank has to determine what is the better offer.
Good Luck again......sometimes they work out FINE....so...there is HOPE...but NO GUARANTEE!
"The Real Estate Lady"
Oceanside Real Estate
(904) 732-PACK (904) 732-7225
You made an offer and the seller accepted it and then the lender(s) need to decide if they will accept the offer or ask for more. Often, since they did not set the listed price, they want more than the list price. Cash is good, but it will not move mountains and banks are like big mountains. They move at their pace and are not forced to hurry. I am not sure about the part you mention saying "then it goes to bankruptcy with contract". I am not sure what that means. If the seller files bankruptcy it could stall the whole short sale deal. Read this: