Should you consider a backup offer? Are backup offers good options for home buyers and sellers? In highly competitive housing markets with desperate buyers and multiple offers, it might seem pointless to write a backup offer, but why not? Buyers and sellers have different considerations, but backup offers can be good options for each. In the end, a back up offer doesn't cost a buyer anything and it can provide the seller with a nice fall back should the primary offer fall apart.
What is a Backup Offer?
Simply put, a backup offer is an accepted offer that immediately becomes primary in the event the current accepted offer fails. Buyer and seller negotiate on terms and conditions just as they normally would. If they reach agreement, a backup offer…
279 Views, 0 Comments