BuyingBasic
What Is Backup Offer?
A backup offer is a fully negotiated purchase agreement that only becomes active if the seller's primary accepted contract falls through.
Most useful for: Repeat Buyer · Real Estate Agent
Why it matters
Being in backup position costs a buyer nothing to wait, and puts them first in line if financing, inspection, or appraisal issues kill the lead contract.
Related Terms
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This definition is provided for general educational purposes and is not financial, legal, tax, or real estate advice. Verify important decisions with appropriately qualified professionals.
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