Presented By:

Buying Your Home and BackUp Offers

News | 5th Apr 2013

Backup Offers on Your Home As a potential home buyer, you may have started to wonder how and when you are going to find your home… your perfect home.

The home that calls your name and makes you feel like you could never leave. The home that you see in your dreams.

Or perhaps you’ve adjusted your mindset and determined that you don’t need “everything” on your want/need list for your new home. Maybe you’ve even gotten to the point where you are just grateful to have at least found a home that is for sale.

In areas with tight inventory, you may be having a hard time finding your home and, as such, you may be considering writing a backup offer for the home(s) you are considering.

A backup offer is an agreement you make with the home seller after they have accepted another offer by a different buyer. A backup offer places you second in line for the property.

If the first offer contains any contingencies requiring sale or appraisal of another home or financing or even an inspection, and they are not met, then you are the next in line and under contract to purchase the home. The offer applies unless or until you find another home that you want to place an offer on. In that case you would need to withdraw your backup offer.

In this day and age, with inventory at all time lows, finding a home, your home, can be difficult. Choosing to submit a backup offer is not easy, either, but could be worth it.  Contact us to see how we can help you “win” the home of your dreams.

Share & Print This Post
Choose A Topic Below

How much is your
Home worth?

Looking for a home? Talk to an Area Expert...
Follow Us

We’re celebrating Marti’s birthday and she’s modeling one of her gifts! Happy dance! ...

View on Facebook

NEW DEL MAR LISTING!
OPEN Saturday & Sunday 1-4PM
2131 El Amigo Road
Del Mar, CA 92014

$2,350,000
Beds: 3 + Office | Full Baths: 2.5
Ocean view contemporary with vaulted ceilings In Del Mar, close to the Beach and Village. This great home has large front and backyards with multiple view decks for relaxing and recreation, an entire upstairs ocean view master retreat featuring an office and separate bonus room with stone fireplace. The entry level is comprised of 2 additional bedrooms, a large family room with French doors and a quaint kitchen that opens up to the backyard. Enjoy this home as is or add on and remodel as you wish!
...

View on Facebook