Hello Duco and thanks for post.
Actually, in the case of a short sale, the current owners (not the bank) will sign and approve the sales contract. Once a successful buyer has been selected by the sellers, that ONE sales contract is sent to the bank for review and approval. The bank approves the sale price and any other terms, but the sellers are still in control of the sales transaction.
Listing agents seldom, if ever, present more than two short sale offers to the bank at any time to prevent confusion and delays in processing the approval.
I hope that this helps answer your question. For more information about short sales, please talk with your Realtor.
Grace Morioka, SRES, e-Pro
Area Pro Realty