May 19, 2020

In real estate, a backup offer is often made on homes already under negotiation. One can make a backup offer in case someone else beats them to the home they’ve been eyeing. Once the real estate backup offers are received, the seller picks the one that’s best.

However, since offers sometimes fail to morph into an actual sale, it’s good practice to have a backup offer on the wings. Among reasons a sale may fall through include financing issues, problems with home inspections, family disagreements, employment, misunderstandings, and school preferences.Continue reading