Remove Backup offer Remove Earnest money deposit Remove Lending Remove Purchase and sale agreement
article thumbnail

4 Things Sellers Need to Know About Backup Offers

First Team Real Estate

Home sales are moving quickly today because of limited inventory, causing lucky home sellers to see an increase in multiple bids or bidding wars. of offers faced bidding wars. What does it mean when it says accepting backup offers? If your buyer ends up with significant issues, your entire sale doesn’t have to end.

article thumbnail

Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

” What do they mean and how will they affect your home sale? Despite this, there can still be room to negotiate the conditions of the sale. 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. Contingent Meaning.