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.”

Backup offer 110

Backup offer Sales Home sale contingency Earnest money deposit 110

RIS Media

APRIL 8, 2022

Once you find your dream home and it happens to be marked as contingent, you can still place an offer. Real estate listings go through different stages. An active listing means the home in question is currently on sale, and sellers are actively open to offers. While financing may be pre-approved, the process is complex.

Debt-to-income ratio 144

Debt-to-income ratio Title search Backup offer Home sale contingency 144

Windemere Buying

JUNE 22, 2022

However, celebrating at this stage in the buying process could leave you heartbroken if your offer isn’t accepted. So, what happens after you make an offer on a house? Revealing what goes on behind the curtain in this critical stage of the buying process will help you understand what to expect next.

Purchase and sale agreement 52

Purchase and sale agreement Inspection contingency Seller concession Backup offer 52