Backup offer Closing Earnest money deposit 
Redfin
JUNE 11, 2025
If they can’t deliver a clear title by the closing date, the buyer may back out of the deal and recover their earnest money. Contracts that include this clause often specify key details, such as whether the buyer’s current home is already under contract and how much time is allowed for the sale to close.
Redfin
JUNE 30, 2025
A real estate offer is a formal, written proposal to purchase a home. It typically includes: The purchase price Contingencies (like financing or inspections) Requests for the seller (such as covering closing costs or repairs) Other key dates (including response deadline, closing date, etc. What happens if your offer is a backup?
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First Team Real Estate
AUGUST 8, 2021
The only way around re-listing is to accept backup offers, so during the planning phase of your home sale, talk to your listing agent about the pros and cons of backup offers. What does it mean when it says accepting backup offers? What is a backup offer? Backup offers, however, can be tricky.
HomeLight
JUNE 29, 2022
Whether it’s dealing with price negotiations or determining a timeline for closing and moving out of the property, you’ll want to step into the process already knowing your objectives and what to expect from prospective buyers. Price your house right to attract competitive offers. Require a sizable earnest money deposit.
Realty Biz
NOVEMBER 11, 2020
When a home sale is listed as contingent, it means that the seller has accepted an offer with contingencies. This means that certain clauses have to be completed, by perhaps both buyer and the seller, for the sale to close. They will also get their earnest money deposit back , and the home will go back on the market.
HomeLight
SEPTEMBER 16, 2022
The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. The earnest money and the option fee are credited to you at closing,” explains Bacak for buyers who move forward. How much is a typical option period fee? Is this refundable?
RIS Media
MAY 19, 2021
However, this is just the start with many things to do before the status changes to “Closed.” The contingent label in a listing indicates that the seller has accepted the offer; however, certain things need to happen before things can move on. Doing so could mean the forfeiture of their earnest money deposit.
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