I was trying to purchase a short sale home in Apollo Beach Mira Bay. I made an offer and it was accepted and signed by the sellers. My agent was in contact with the listing agent and was informed by the listing agent that my offer was the best. However, after 3 months of waiting I was informed the house was sold to another person at the "last minute" for the same price I offered because that person offered "cash". The bottom line on a short sale is it isn't your house until the closing is final and you have no legal recourse as you do with a conventional sale. The seller can reject your offer at any time in the process even for a lower bid. On the other hand you (the buyer) can walk away from the deal at any time with no penalty.(not sure if you can get your earnest money back) As the above posters have mentioned you need patience and the ability to deal with disappointment if you want to pursue a short sale. In hind sight I should have decided to walk away because the listing agent never removed the house from the listings. In other words they were looking for better offers even after they accepted my offer.