It is my understanding that the bank has to approve a dollar amount that it will accept for a short sale. I f I offer less than this amount, will they even consider it? Ex. I want to buy a house that is listed at 79,900, and I am approved for a purchase price of 75,000. After the real estate agents get there share the bank may only get 69,000(just a guess). I dont know what amount or if the bank has approved an amount for the short sale, but with a list price at 79,900 do I stand any chance at getting this house???

Can I put a stipulation in the contract that it’s not fully executed until the lender approves? I don’t want to be sitting around stuck in a contract after the seller approves the price. The seller would agree to any price you throw at them….they aren’t getting anything back.
doinou - I don’t understand your answer at all. I don’t think you understand the question I’m asking. I want to know if I can back out of a short sale contract even if the seller agreed and signed. After that, the contract would be sent to the sellers lender for approval (which from what I understand, can take forever and a day).