Will Banks accept a contingency offer on a short sale? (contingencies, property)

[sueinge]

Out of curiosity, I was wondering if anyone has ever tried to put an offer on a house that is a short sale with a contingency to sell their home?? I know some owners are willing to take contingencies in this market but I doubt a bank would...thanks for any info!

[Silverfall]

I am not a short sale expert, but the ones I have done, they were clear that a home sale contingency would not be accepted.

[irish setter girl]

Simple answer: No

This is based on my experience

[Jamesww]

In my experience no, no and no.

But, hey it never hurts to try. You are guaranteed to not get the property if you dont try. Even if chances are extremly low if you offer the worst situation is that you get told no.

[Captain Bill]

I would not advise putting in a contingency offer on a short sale.

• First of all it will probably be rejected. They want to sell the house now, and don't want to wait to see if yours will sell.
• The lender will take all the offers they can get and accept the best.
• It takes a long time to get a response from the bank. You may be waiting 8 weeks before having your offer rejected.

And remember that you buy a short sale AS IS. They will not make any repairs.

Be sure you know what you're doing, or work with a realtor when dealing with a short sale.