Hank Miller Team

OCTOBER 1, 2021

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? What is a Backup Offer?

Backup offer 52

Backup offer Due diligence Closing Loans 52

Realtor.com

JANUARY 12, 2021

While laws vary by state, in general, up until that contract is signed by both parties—even after counteroffers have been sent out—all new offers can be considered and accepted. That’s why it’s so important that sellers are confident that they want to accept an offer before signing. Here’s what home sellers need to know.

Backup offer 115

Backup offer Purchase and sale agreement Due diligence Inspection 115

Norada Real Estate

APRIL 20, 2023

Can a seller accept another offer while under contract? If a house is under contract, can I still make an offer? When a seller accepts an offer from a buyer, they sign a contract that outlines the terms of the sale. When a seller accepts an offer from a buyer, they sign a contract that outlines the terms of the sale.

Backup offer 52

Backup offer Due diligence Finance Inspection 52

Realty Biz

NOVEMBER 11, 2020

For example, if a home sale is contingent or pending, can you still make an offer? How your real estate agent markets your property when an offer has been accepted can have vital implications. When a home sale is listed as contingent, it means that the seller has accepted an offer with contingencies. What does Contingent Mean?

Backup offer 110

Backup offer Sales Home sale contingency Earnest money deposit 110

RIS Media

APRIL 18, 2022

There’s no guarantee that the property you like will be available when you’re ready to make an offer. Multiple offers and bidding wars on houses are the norm, not the exception. You may see some of these things or all of them before making an offer. It will help tailor your offer when the time comes.

Pre-approval 112

Pre-approval Backup offer Due diligence Rent back 112

HomeLight

JULY 23, 2021

Since most homes for sale are made available through the MLS — which syndicates to lots of different real estate websites and makes properties available to all agents within the region — it’s fair to wonder if a house with an offer on it will be removed from the MLS. Will a house with an offer on it be removed from the MLS?

MLS 106

MLS Backup offer Agents Purchase and sale agreement 106

HomeLight

SEPTEMBER 16, 2022

For example, states such as North Carolina and Georgia have a due diligence period that works in a similar way. The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. If you don’t know what you want, the line disappears too quickly. What is an option period?

Option period 80

Option period Earnest money deposit Due diligence Inspection 80