A back up offer is an offer to purchase a property that is made after a property has been accepted by another party. A back up offer is often made in the event that the first party fails to close on the property.
There are several reasons why a back up offer may be made. One reason is that the first party may not be able to obtain financing. Another reason is that the first party may change their mind …
What is a back up offer on a property?
A back up offer on a property is a contractual agreement between a buyer and a seller to purchase a property if the initial offer is not accepted, or if the property becomes available for purchase again.
Why is a back up offer important?
A back up offer is important because it can help a buyer secure a property they are interested in, and it can help a seller avoid having …
