WebMar 5, 2024 · An accepted backup offer is an executed contract that needs to be followed, just like the first accepted offer. If you are unsure of any aspect of the purchase contract, … WebA backup offer occurs when a seller already has a buyer under contract but accepts another contract with a second buyer. This second contract does not go into effect unless the first contract falls through (therefore the 2nd contract is contingent upon release of the 1st.) If the contract with the original buyer falls through, the second buyer ...

What Accepting Backup Offers and Other Real Estate Terms Mean

WebMar 16, 2024 · In real estate, the term “pending” or “sale pending” generally means that an offer was made and accepted. The home is in the process of being sold and the sale could be contingent on things like an inspection and/or appraisal. A house will remain pending until the financing is approved, all contingencies are met and the sale is closed on. http://acreandco.com/pending-pending-bring-back-mean-online-listing/ growing microgreens commercially

This is why you’re seeing ‘accepting backup offers’ on CT Zillow …

WebAs a reminder, these listings are under contract, and the Seller has requested, in writing, the Listing Agent continue to market the property for backup offers. If a Seller has not requested the property continue to be marketed for additional offers, then the listing should be changed to Pending status, regardless of any contingencies.” WebWhen a property is marked as pending, an offer has been accepted by the seller and all contingencies have been satisfactorily addressed or waived. Pending deals are no longer … WebFeb 9, 2024 · One of the reasons you should make a backup offer is to keep the home available. If the buyer who’s originally trying to purchase the home either decides they aren’t going to or they don’t want to, the seller could potentially take the home off the market or sell it to someone else. With your backup offer, you’ll have the opportunity to ... film victor hugo