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

You could, for example, insert terms in the purchase agreement that allow you, as the seller, to continue to accept offers and for the buyer to be allowed the option to match or exceed any higher offers. Buyers can also take backup offers (more on these options later). Can home sellers accept backup offers?

Backup offer 115

Backup offer Purchase and sale agreement Due diligence Inspection 115

Norada Real Estate

APRIL 20, 2023

In this blog post, we will discuss the real estate contract and address common questions such as whether a seller can accept another offer while under contract and whether it is still possible to make an offer on a house that is already under contract. Can a Seller Accept Another Offer While Under Contract?

Backup offer 52

Backup offer Due diligence Finance Inspection 52

Realty Biz

NOVEMBER 11, 2020

How your real estate agent markets your property when an offer has been accepted can have vital implications. They will also get their earnest money deposit back , and the home will go back on the market. Will they be marketing the home properly? Sometimes real estate markets heavily favor sellers.

Backup offer 111

Backup offer Sales Home sale contingency Earnest money deposit 111

RIS Media

APRIL 18, 2022

Take time to understand the current housing market. There’s no guarantee that the property you like will be available when you’re ready to make an offer. You’ll want to be sure you understand the current market and what houses are available. Is it a buyer’s market or a seller’s market?

Pre-approval 112

Pre-approval Backup offer Due diligence Rent back 112

HomeLight

JULY 23, 2021

If the first offer isn’t accepted — maybe the price is too low, or there are too many contingencies on the sale — the seller will surely want the opportunity for another offer to come in on their home. When [my team] lists properties, we actually encourage all of our clients to accept a backup offer,” says Cheperdak.

MLS 109

MLS Backup offer Agents Purchase and sale agreement 109

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 99

Option period Earnest money deposit Due diligence Inspection 99