Need Help Quickly....Shortsale Offer pending

[VentureHomes]

I hope someone can help me with this question. I have an offer in on a property. I've been in contact with the owner and she was willing to do an option contract so I had sole right to negotiate, then, another offer came in. She said she wanted to wait for both of the offers to go through now.          It's been 3 weeks and there has been no activity or response on the offers. My question is: Can I have the seller sign an option contract when there are 2 offers pending on the house? If I were to go and record the option at the Courthouse would that give me exclusive rights to negotiate on the house in front of the other two offers? Any answers would help in this matter.

[DJP]

I guess it depends on your state and what your option contract states.  Was your offer contingent on a short sale approval by the lender?
Who would submit the other offers to the lender?  Are you a real estate agent?
Some lenders will not want multiple offers submitted, they'll tell you to submit the best - which is subjective..

[Ted Akers]

As a suggestion, experienced short sale investors will have a provision in their option contract granting them the right to recieve and review/approve/etc. any and all subsequent offers.  These subsequent offers can become your end buyer.