Best and highest offer on short sale

[Alex Ballas]

hi everyone

I have been watching a single family that is listed a 199k for 9 months. It has great potential but is currently a distressed property, owners divorced and walked out. 

Today it was listed as short sale for 175k. I put in offer at 170k. Agent came back with multiple offers present so best and highest, no contingencies,  and "A longer, flexible acceptance period will go a long way".  Also buyer pays 2% negotiation fee  

The seller didn't sell for 9 months so for them to ask for 175k means no one has offered that yet, right? My original offer months ago was 155k. I plan to live there for a few years and rehab it. 

Strategies? Are there really multiple offers? My agent recommends an escalation clause.