This property is currently pending, meaning there is already an accepted contract on it. However, it is a short sale so the transaction must be approved by the seller's mortgage company or companies for less money than is owned on the mortgage. The listing also mentions a home inspection contingency. While the existing transaction is being evaluated by the seller's mortgage company, the seller is willing to accept back-up offers. It could turn out that the seller's mortgage company may want more money than they would get from the existing contract; thus a back-up offer could become more attractive to the seller's lender.
You don't mention if you are working with a Buyer's Agent. Given the status of this property, a good Buyer's Agent would arrange for a showing for you to see if this property meets your needs. If it does, and depending upon the status of the existing contract at that point, you may decide if you wish to proceed with a back-up contract or permit the Buyer's Agent do research and find other properties that meet your specific needs.
Should you desire a great agent to assist you as a Buyer's Agent, it would be my pleasure to have one of my service-oriented agents assist you. As the Managing Broker of the office, I can find just the right one for you. I welcome the opportunity to help you navigate this house hunting maze.
Jo Cross, ABRM, CDPE, CRB, CRS
Coldwell Banker Professional REALTORSÂ®
636 Cedar Road
Chesapeake, VA 23322
Licensed in Virginia