What’s a Back-Up Offer and Should I Accept One on My Home?
What happens when an offer falls through on your house?
Well, typically, you have to put it back on the market again and wait for another buyer to make an offer you like.
Or... you can accept a back-up offer.
What's a back-up offer? Great question! This is when you accept an offer contingent upon the first one falling through. In other words, a back-up offer goes into effect only if and when the primary offer gets canceled.
A word of caution, though... This isn't something I recommend you doing without some careful research or a trusted guide. To learn more about back-up offers, the pros and cons, and what they mean for you as the seller, click here!