So if the "required price" comes back at $150k are you still interested?
Also from my experience unless you are able to pay ALL CASH, it's highly unlikely you can even get a backup contract on a Short Sale.
If you're getting a mortgage to purchase, go the full steps to get a Lender Comittment Letter with the only contingency of a clear title and an appraisal and it will allow you to compete in our current SELLER's market in your price range.
Ask your Realtor for a Listingbook account so you can search with the most up-to-date info and also get morning emails of new properties that fit your criteria so you do not miss out on opportunities.
If you're not yet working with a Realtor, you're welcome to sign up for a free Listingbook account on my website: http://www.SoldOnTampa.com
All the best,
Alma Rose Kee, PA
Future Home Realty
Previous agents have provided you with great information regarding the status of this property. I also suggest that you start looking at similar types of properties but which are still available in the market. The seller could accept back up offers when the status is Active with Contract, but if there are already back up offers and keeping in mind that it could take months for the bank approval or rejection of the current offer, you could be waiting a very long time to see if the current offer will get accepted or if the property will be actively listed again.
All the best,
Majid (Jay) Mirzai
Coldwell Banker Residential Real Estate