What is a backup offer and should I accept one?
By Bob Millaway, South Jersey Community Expert & REALTOR®
A backup offer is a secondary offer you accept in case your primary contract falls through. It keeps your home in a pending status with a second buyer waiting. Accepting a backup offer is generally a good idea because it protects you if the first buyer backs out. You can continue negotiations with the backup buyer while the primary contract is still active.
Why It Matters
Accepting a backup offer reduces the risk of having to relist your home and start over if your first buyer walks away.
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