Expert Opinions Needed

Home is worth 230 based on comps. My offer of 163 has not moved the bank at all. The auction is this Friday 8/10. I have and offer from a buyer at 190. I do not want to go much higher. However, if the house goes to auction, I get nothing. I will offer the bank up to 175 or 180 just to keep the home from going to auction. This does not leave a big profit for me, but I would rather make some money as this is my first short sale.

Question: Is it possible to enter into contract with my buyer and require $5000 in earnest as a way to guarantee that if I bid up to 180, I will still have the property sold and make a couple of thousand when it is all said and done?

I greatly appreciate the advice.

Yes, up to the day of the auction. However, the lender might not get back to you by then. Which part of the country do you live in? If in CA, at that price, it might be sold at the auction.