Short sales - multiple contracts

[Anand S.]

I've been waiting on a short sale for 6 months with no final answer. I'm getting concerned the short sale may never get approved.

I started my search again and found a second home that's also a short sale. I'd like to place a contract on this as well in case the first never goes through. If after I enter into a contract with this second home and the first is approved, is it possible to exit the second home's contract? Are there terms I should place in the contract to allow me an exit?

I can exit the first short sale with no problems, as I've waited longer than the agreed to period.

I would think with short sales, placing multiple contracts is common given the uncertainties and time frame.