Backup offer Banks Residential 
HomeLight
JANUARY 13, 2022
In other words, the primary deal on an active contingent listing might (maybe) fall through, causing sellers to place their home back on the market — or accept a backup offer. “I If you’re buying a residential property and you plan to continue using it as a place to live, there should be no issues. Bank or court approvals.
The Residential Specialist
DECEMBER 31, 2020
Spreadsheets are also where you can include information about the people you’re working with, says Cain, because communication, agent capability and other factors can be just as important to an offer as the numbers. “We Backup Offers. And, of course, keep showing your client’s home until the backup offer is accepted!
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Realty Biz
MAY 24, 2021
Then the residential market rebounded quickly. You can work closely with your real estate agent to structure an offer that will gain the attention of the seller based on contingencies, concessions, and anticipated closing date. Even if you are outbid, make your best offer a backup offer. Be patient. Don’t settle.
HomeLight
DECEMBER 30, 2021
After you accept an offer, the buyer’s mortgage lender typically contacts a third-party appraisal management company (AMC ). A residential home appraiser’s job is to provide a professional opinion of your home’s value so the lender knows that the house is worth at least what the buyer asks to borrow for the purchase.
HomeLight
DECEMBER 31, 2020
Rachel Massey , a certified residential appraiser in Ann Arbor, Michigan, agrees that online valuators can be reasonably reliable or wildly inaccurate, depending on the type of housing and the location. You want to have a “backup offer” in case the regular listing process doesn’t work out. Check the FHFA HPI calculator.
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