Well now you did say...Contract. To me that means the Buyer is obligated to Buy this property if and when the seller, the bank, accepts the offer. What you should do is find out what that contract says.

__________________
Larry Jensen, Principal Broker
St. Lawrence Properties, llc
Ph. (888) SLP-NYCT (888-757-6928)
www.SLPNYCT.com New York & Connecticut Real Estate & Property Management