Redfin
JULY 30, 2025
You can still express interest in the listing, but your offer won’t be considered unless the current deal falls through. Here are some steps to take: Submit a competitive backup offer : If the original deal collapses due to financing, inspection, or other unforeseen circumstances, you may be next in line.
Redfin
MARCH 5, 2025
A mortgage pre-approval can give you a clearer picture of your financial standing and help you secure a deal faster. A contingent listing means the seller has accepted an offer, but the sale depends on certain conditions, like the buyer securing financing or selling their current home.
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Redfin
JUNE 30, 2025
The seller may take a few hours or even a few days to make their decision, depending on their level of interest and whether they are juggling multiple offers. A strong offer doesn’t just focus on price. What happens if your offer is a backup? If your offer wasn’t accepted, don’t lose hope.
Redfin
JUNE 17, 2025
This allows them to keep showing the home and accept backup offers. If a stronger offer comes in, the seller can ask the original buyer to either remove their contingency or step aside — effectively “bumping” them out of the contract. A home with a bumpable offer is still active, and the seller can accept a stronger offer.
Redfin
MARCH 5, 2025
A mortgage pre-approval can give you a clearer picture of your financial standing and help you secure a deal faster. A contingent listing means the seller has accepted an offer, but the sale depends on certain conditions, like the buyer securing financing or selling their current home.
Realty Biz
NOVEMBER 11, 2020
Even if the buyer has pre-approval for a mortgage, things can still go wrong when they apply for the loan. Perhaps, they have taken out a fresh loan, or their situation has changed in some other way since pre-approval. In real estate jargon, this is referred to as a “backup offer.”
RIS Media
APRIL 18, 2022
It may make sense to put in a backup offer when you’re not the winning bidder. Many buyers will put in offers on homes that are contingent just in case the home of their dreams comes back on the market. . Get pre-approved for a mortgage. This will help eliminate any surprises during the homebuying process.
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