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BACKUP OFFER ADDENDUMAddendum # 1. 2. 3. 4. 5.In reference to Buy and Sell Agreement between , the Buyer, and the Seller, with a referenced contract date of , covering the real property located at.

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A seller may accept backup offers so if the current buyer walks there is another purchaser ready to close the deal. By collecting backup offers, the seller avoids having to remarket the listing, show the home again or sift through numerous new offers, because backup buyers eagerly await the home on the sidelines.

A backup bid in real estate can certainly be successful for a home buyer. By submitting a backup offer, you could wipe out any competition you could have for the home should the first sale fall through. The seller may think enough of your purchase offer to accept it and not return it to the open market.

A backup offer puts you in line to make a home purchase if the first buyer backs out for common reasons, including property financing or home inspections. Backup offers can help avoid bidding wars. Having a backup offer in place can also help home buyers and sellers get an offer locked in even if the market changes.

0:34 7:56 Fun with Forms: Addendum for Back Up Contract - YouTube YouTube Start of suggested clip End of suggested clip And receded per the guidelines. In the backup contract earnest money and option fee should beMoreAnd receded per the guidelines. In the backup contract earnest money and option fee should be delivered to the title. Company along with the backup contract. Let your buyers.

How to make a winning backup offer Money talks. Present a clean offer, complete with mortgage pre-approval and proof of funds. ... Be flexible. Are you willing to give them extra time to enjoy the holidays in their home, or forgo minor repairs that others might insist on? ... Write a letter. ... Stay visible.

A backup offer can be treated just the same as a primary offer. Both the buyer and the seller can (and should) counter and negotiate to try to find the best deal for themselves.

The Odds You'll Be Accepted Are Low Most home purchase contracts go on to successfully close. The odds are that your backup offer won't come into play, and the time you spend waiting to find out could've been better spent looking for houses that don't have any offers on them.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232