Active with contract taking backup offers
Definition of Active Under Contract: An offer has been accepted but the listing is still on market, with the specific contingency to be noted. Any listings in this status must state the following at the beginning of the public remarks, "Under Contract Taking Backup Offers." The long and short answer is that a seller can accept back-up offers even after you are under contract. Certain things have to fall in place in order for it to work out for the person with the back-up offer, but it does happen. As mentioned above, while the listing status remains Active Under Contract, the seller cannot enter another contract for the same property with another party. However, sellers can collect backup offers from other interested parties. Backup offers essentially serve as placeholders for the next buyer(s) in line. Your backup offer will not become active until the primary offer from another prospective buyer falls through. Consider including a contingency that allows you to walk away from the backup offer should you find another property you’re interested in. That way, you can keep moving forward without wasting time, in case the primary offer works out. A backup offer puts you in line to buy a home that already has a contract in play. Contingencies such as appraisal, approval of buyer's inspection and successfully getting financing in place could A “Back-Up Offer” is an offer that is submitted when a home is already Under Contract (as seen on FranklyMLS with the strikeout line) with another buyer. ( sidenote: this post kinda conflicts with my “this home is not available” post on
A “Back-Up Offer” is an offer that is submitted when a home is already Under Contract (as seen on FranklyMLS with the strikeout line) with another buyer. ( sidenote: this post kinda conflicts with my “this home is not available” post on
9 May 2019 Home / News / MARIS / Re-visiting Active Under Contract and effort to obtain a backup offer or to stop marketing and move towards closing. 17 Apr 2018 terms: Active Option Contract; Kick Out; Contingent; Backup; and, In most areas, if an active property receives and accepts an offer, the listing agent The Active Option Contract status in Texas real estate means that the Before changing a listing to “Active Under Contract” status, Soliciting Back-Up Offers; Sale of Buyer's Property Contingency; Pending Short Sale buyers to wonder why it's taking so long for a property to finally become available for showing. 17 Feb 2017 What's the difference, and can you still put in an offer? preventing it in the contract, seller's agents will continue to accept back-up offers, and 'Active/Backup' is another story. It is used in the case when an offer is accepted, but perhaps there are signs that the deal isn't ironclad. In order to take care A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape If the buyer cannot fulfil the contingencies in time, the original contract will cancel and the back-up offer will move into first position. The term 72 -hour
One potential tactic that is becoming more popular is submitting a backup offer. The home is already under contract with Buyer 1, but Buyer 2 submits a contract to the seller, and the seller can add a backup addendum. When the seller signs the backup contract,
A backup offer puts you in line to buy a home that already has a contract in play. Contingencies such as appraisal, approval of buyer's inspection and successfully getting financing in place could A “Back-Up Offer” is an offer that is submitted when a home is already Under Contract (as seen on FranklyMLS with the strikeout line) with another buyer. ( sidenote: this post kinda conflicts with my “this home is not available” post on All of our experts agree that you should indeed submit an offer on a house whose status is active with backup offers. “In the event that the primary offer does not go through, the second offer will go to contract without the house going back on the market,” saysJamie Safier, a licensed real estate salesperson at Douglas Elliman in New York. There are other reasons a seller may take backup offers, but they similarly relate to circumstances that indicate the best offer might not pan out. “'Active with a backup offer' could mean the seller accepted an offer but doesn't feel sure that the buyer is a strong candidate, so they want backups in case the first offer falls through," says All of our experts agree that you should indeed submit an offer on a house whose status is active with backup offers. “In the event that the primary offer does not go through, the second offer will go to contract without the house going back on the market,” says Jamie Safier, a licensed real estate salesperson at Douglas Elliman in New York. All of our experts agree that you should indeed submit an offer on a house whose status is active with backup offers. “In the event that the primary offer does not go through, the second offer will go to contract without the house going back on the market,” says Jamie Safier, a licensed real estate salesperson at Douglas Elliman in New York. Terms like "pending" or "contingent" are commonly seen in online listings and may be more familiar, but what about "active with back-up offers"?
Definition of Active Under Contract: An offer has been accepted but the listing is still on market, with the specific contingency to be noted. Any listings in this status must state the following at the beginning of the public remarks, "Under Contract Taking Backup Offers."
Definition of Active Under Contract: An offer has been accepted but the listing is still on market, with the specific contingency to be noted. Any listings in this status must state the following at the beginning of the public remarks, "Under Contract Taking Backup Offers." The long and short answer is that a seller can accept back-up offers even after you are under contract. Certain things have to fall in place in order for it to work out for the person with the back-up offer, but it does happen. As mentioned above, while the listing status remains Active Under Contract, the seller cannot enter another contract for the same property with another party. However, sellers can collect backup offers from other interested parties. Backup offers essentially serve as placeholders for the next buyer(s) in line. Your backup offer will not become active until the primary offer from another prospective buyer falls through. Consider including a contingency that allows you to walk away from the backup offer should you find another property you’re interested in. That way, you can keep moving forward without wasting time, in case the primary offer works out. A backup offer puts you in line to buy a home that already has a contract in play. Contingencies such as appraisal, approval of buyer's inspection and successfully getting financing in place could A “Back-Up Offer” is an offer that is submitted when a home is already Under Contract (as seen on FranklyMLS with the strikeout line) with another buyer. ( sidenote: this post kinda conflicts with my “this home is not available” post on All of our experts agree that you should indeed submit an offer on a house whose status is active with backup offers. “In the event that the primary offer does not go through, the second offer will go to contract without the house going back on the market,” saysJamie Safier, a licensed real estate salesperson at Douglas Elliman in New York.
As a result, homes can be listed for sale and receive multiple offers all in the same day. No matter how good the offer is, another offer may win the contract.
As a result, homes can be listed for sale and receive multiple offers all in the same day. No matter how good the offer is, another offer may win the contract. “Sold” search criteria unchanged. May 2009 – Stat parameters changed to exclude “Active Under Contract Taking Backup Offers” and “Active Under Contract
Before changing a listing to “Active Under Contract” status, Soliciting Back-Up Offers; Sale of Buyer's Property Contingency; Pending Short Sale buyers to wonder why it's taking so long for a property to finally become available for showing. 17 Feb 2017 What's the difference, and can you still put in an offer? preventing it in the contract, seller's agents will continue to accept back-up offers, and