Tired of Waiting on a Short Sale Approval – Can I Cancel the Contract without Penalty?

This question was recently answered on the Spring Hill Buyers & Sellers Q&A Forum:

The following question was recently posed by a buyer:

I have submitted a Short Sale bid on a property in Florida and am getting tired of waiting for approval. Can I cancel the bid without any penalty?

Unfortunately I don’t have any way to give you a good answer to that question. It depends entirely on the contract you that you signed.

When I write up an offer on a short-sale property, I make sure that my client is able to get out of the deal with no penalty prior to the end of the inspection period (which doesn’t begin until the lender approves the deal). But that’s just based on the contract that I use with my clients – your contract could be completely different.

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UNDER CONTRACT – $165,000 – 4/4/3 Foreclosure in Sterling Hill, Built in ‘06, 2959 SF Living, Huge Kitchen w/ Crown Moldings and Corian Tops!

This foreclosure in Sterling Hill is now SOLD – if you’re interested in similar properties, click our Custom MLS Search link and let us know! We’ll find one for you, too!

Here’s another fantastic foreclosure for sale in Sterling Hill – this one is now on the market! Call me ASAP at 352-397-5182 and we’ll get you all the information and set up a showing ASAP! Make sure to have your financing lined up because this one will be gone FAST!

Click the photo below for over 100 photos of the property!

Sterling Hill Foreclosure for Sale

Sterling Hill Foreclosure for Sale


Built 2006
4 Bed
4 Bath
3 Car Garage
2,959 SF Living Area
Huge Kitchen w/ Island, Wood Cabinets, Crown Moldings, Corian Countertops, Built-In Wall Ovens, Glass Cook-Top, & More!
Great Shape and only $165,000!

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UNDER CONTRACT – $114,500! 4/2/3 Foreclosure in Sterling Hill, Built in ‘06, 2366 SF Living, Gated Community, Fantastic Condition!

This foreclosure in Sterling Hill is now SOLD – if you’re interested in similar properties, click our Custom MLS Search link and let us know! We’ll find one for you, too!

This property WILL be gone by tomorrow! Click on the picture below to view over 100 photographs of the property and then CALL ME ASAP at 352-397-5182 for more information and to schedule a showing!

Sterling Hill Foreclosure for Sale

Sterling Hill Foreclosure for Sale


Built 2006
4 Bed
2 Bath
3 Car Garage
2,366 SF Living Area
Fantastic Condition!

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