If you put an offer on a short sale, can you still look at other homes and...

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lovemydoggy

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...back out of offer? Are there penalties? I want to put an offer on a home, but it may take months. Can I continue my search and if I find a home being sold by owner, can I back out of the short sale?
what do you lose? are there penalties?
 
Yes, you can continue to look at homes and can rescind your offer on the short sale up until it is accepted by the bank.
 
Yes, you can continue to look at homes and can rescind your offer on the short sale up until it is accepted by the bank.
 
Yes, you can continue to look at homes and can rescind your offer on the short sale up until it is accepted by the bank.
 
Yes, you can continue to look at homes and can rescind your offer on the short sale up until it is accepted by the bank.
 
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