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Backup offer

Due diligence

Lending

Will a House With an Offer On It Be Removed From the MLS? Agents Explain How It Works

HomeLight

JULY 23, 2021

From the terms for different types of houses to the lingo associated with lending, there’s plenty of terminologies that can feel overwhelming for a buyer to keep up with. When [my team] lists properties, we actually encourage all of our clients to accept a backup offer,” says Cheperdak.

MLS

MLS Backup offer Agents Purchase and sale agreement

What Is an Option Period When Buying a Home?

HomeLight

SEPTEMBER 16, 2022

For example, states such as North Carolina and Georgia have a due diligence period that works in a similar way. A higher fee and shorter time frame might make the buyer’s offer more attractive to the seller, and sellers may ask for better terms which could extend the negotiation period. When does an option period begin?

Option period

Option period Earnest money deposit Due diligence Inspection

Will a House With an Offer On It Be Removed From the MLS? Agents Explain How It Works

What Is an Option Period When Buying a Home?

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