This is not yet owned by a bank. It's still owned by a private individual owner, but s/he is attempting to sell it as a short sale. Not too many short sales actually end up selling. Roughly about 90%-95% of short sales end up being foreclosed on and revert to REO foreclosures. Besides, the seller has already accepted an offer on this property and has sent it to his/her mortgage company(ies) for approval. You can submit a backup offer, though, but that's not recommended.
As a home buyer, you will be best served by allowing an exclusive, full-time Buyer's Agent to assist you. Otherwise, you may continue to located properties that are no longer for sale.
Buyer's Agent Realtor
That property is not bank owned, it is a short sale. Currently it is AWC, the seller has an accepted offer waiting bank approval, but are accepting back-up offers. There still a good chance that the property will never sell as a short sale and end up being later sold as a foreclosure.
Let me know if you are interested.
Carlos J Ramirez, PC, ABR, CNE
Associate Broker, HomeSmart -