Hank Miller Team

OCTOBER 1, 2021

Should you consider a backup offer? Are backup offers good options for home buyers and sellers? In highly competitive housing markets with desperate buyers and multiple offers, it might seem pointless to write a backup offer, but why not? What is a Backup Offer?

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Realtor.com

JANUARY 12, 2021

You could, for example, insert terms in the purchase agreement that allow you, as the seller, to continue to accept offers and for the buyer to be allowed the option to match or exceed any higher offers. Buyers can also take backup offers (more on these options later). Can home sellers accept backup offers?

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Realtor.com

APRIL 9, 2021

Since it’s possible for any of these items to fall through along the way, seller’s agents will sometimes take backup offers. That depends on a number of factors, including the temperature of your local real estate market. The hotter the market, the less likely it is to fall through.

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Point2Homes

DECEMBER 8, 2020

It’s certainly possible that the home could come back on the market and, by getting in touch, you might be able to jump to the front of the line. As the buyer works to meet these contingencies, other potential purchasers can view the property and make offers — but the offers will be put into what is called “backup status.”

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Realty Biz

MAY 24, 2021

Then the residential market rebounded quickly. The market remains tight and expensive but it could be opening up to at least give buyers a larger selection to choose from. One strategy for buyers in this extreme seller’s market could be taking a bit of a risk. This is called days on market or DOM. at $329,100. Be patient.

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HomeLight

JULY 6, 2023

When your home first hits the market, your listing agent will note that it’s “Active,” as in ready and available for showings — but there’s a lot of ground to cover before your agent lists the status as “Closed,” when you have a done deal and you’re ready to hand over the keys. Selling your house soon? Closed”- Consider these listings sold.

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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 A pending home will be sold and taken off the market as soon as the sale is finalized. Common types of contingencies. Contingent no-show.

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Realty Biz

NOVEMBER 11, 2020

How your real estate agent markets your property when an offer has been accepted can have vital implications. They will also get their earnest money deposit back , and the home will go back on the market. Will they be marketing the home properly? Sometimes real estate markets heavily favor sellers.

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Realtor.com

NOVEMBER 28, 2022

Fotoamator/iStock Can you show your home with an offer on the table? You’ve accepted the offer , which means you’re in wedded bliss and off the market, so to speak, right? But even if you are pleased with your current offer, you might still want to let your agent continue showing your home. “In Not so fast!

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The Residential Specialist

DECEMBER 31, 2020

The pandemic has caused a surge in the housing market, and agents must guide clients through the stress of buying and selling homes. For this reason, and because interest rates are low across the country, real estate markets everywhere are seeing a big shift. By Megan Kramer. Buyers Can Get Personal.

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Realty Biz

SEPTEMBER 14, 2021

The seller has agreed to accept a contingent offer from the purchaser. During this time, the seller can still accept backup offers from other interested parties. It is not uncommon in real estate markets where home values are rising quickly for appraisal problems. Making an Offer on a House Under Contract.

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Realtor.com

SEPTEMBER 14, 2020

In fact, the pad went under contract just weeks after it came on the market. We actually received multiple offers. It is currently under contract, and I have a backup offer as well,” she notes. The new owners, she says, made an offer without even seeing the property in person. That sealed the deal. “We

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HomeLight

JULY 23, 2021

If the first offer isn’t accepted — maybe the price is too low, or there are too many contingencies on the sale — the seller will surely want the opportunity for another offer to come in on their home. When [my team] lists properties, we actually encourage all of our clients to accept a backup offer,” says Cheperdak.

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RIS Media

APRIL 8, 2022

Homes listed as contingent mean a home seller has accepted an offer on the house, and the sale is going through once a specific criterion (highlighted in the contract) is met. Homes that are listed as pending or sold are officially off the market. . Other factors can also put a home back on the market. These include; .

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HomeLight

DECEMBER 31, 2020

Real estate agents keep an eye on sales pending properties because there are a number of ways that the deal could fall through and the house could come back on the market. For further details, you should talk to your agent about your area’s local market customs and norms. Line up backup offers to hedge your risk.

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Realty Biz

NOVEMBER 15, 2021

The reality is that as soon as a listing lands on the market, the race is on. Between July 2020 and June 2021, the average home was on the market for just one week before going under contract, according to the National Association of Realtor’s newly published 2021 Profile of Home Buyers and Sellers.

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RIS Media

APRIL 18, 2022

Take time to understand the current housing market. There’s no guarantee that the property you like will be available when you’re ready to make an offer. You’ll want to be sure you understand the current market and what houses are available. Is it a buyer’s market or a seller’s market?

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HomeLight

NOVEMBER 1, 2021

If you’re selling your home in a hot market rampant with bidding wars that drive up the purchase offers on home sales, you may realize that your home is unlikely to appraise for the inflated purchase offer or even for your asking price. In this case, the buyer hopes that the new appraisal will come in closer to market value.

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HomeLight

JANUARY 5, 2022

Unlike taking your house off the market , withdrawing from a purchase contract can cost you big time. In a housing shortage, the market is ripe with bidding wars. It’s not unheard of for sellers to receive higher offers after signing a purchase agreement and want to back out of the contract. But are you stuck? Not necessarily.

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First Team Real Estate

MAY 27, 2021

I use our internal communications platform in all areas of my business and our DIY marketing software for professional-looking materials. Of the four luxury real estate sales I closed in April, three of the transactions were backup offers, and another I secured for my client through targeted outreach with an “I have a buyer letter.”

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First Team Real Estate

MAY 14, 2021

If you’re starting your home search or sale, Zillow Seal Beach is a fine jumping-off point, but when it comes to analyzing the local real estate market, you need a local professional to help you come out on top. She’s also supported by 45 years of market expertise from First Team Real Estate, with access to our internal Buyer Delivery System.

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HomeLight

OCTOBER 20, 2020

If you choose to accept a contingent offer, your agent can add a kick-out clause to the sales contract that gives you the right to continue marketing and showing the house during the contingency period. That way, if you receive another offer, the original buyer will have a certain period of time to remove the contingency.

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Easy Agent Pro

JUNE 8, 2021

Topic: “3 Things you Must Know about Selling your [name of your market] Home this Summer”. Sure, the nation is in a hot sellers’ market right now, but what is your local market like? Multiple offers? Days on the market down significantly? Sell the benefits of putting their home on the market this summer.

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Realtor.com

DECEMBER 31, 2020

realtor.com Authentic midcentury modern time capsules like this beauty in Rancho Mirage, CA , don’t land on the market often. But if you truly dig the vibe, there may be a slim chance—the sellers are accepting backup offers. And when they do, they wind up selling in a flash.

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HomeLight

NOVEMBER 8, 2024

If you’re particularly interested in a pending property, you can ask your agent to monitor its status or even submit a backup offer. If the current buyer’s offer includes conditions, referred to as contingencies , that they are unable to meet, this may open up a window of opportunity.

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The Close

APRIL 26, 2022

Our team’s next step is to search for expired listings and homes that have been withdrawn from the market. Even in today’s low inventory market, some listings don’t sell the first time around. Write Backup Offers With a Backup Clause Written by an Attorney. For older expireds, go ahead and call them yourself.

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Marco Santarelli

APRIL 15, 2023

When both the buyer and seller have agreed to each other's terms, and all contingencies have been met, the property is marked as “pending” and taken off the market. This is a marketing tool used by real estate agents to generate interest and build anticipation for a new listing.

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First Team Real Estate

NOVEMBER 9, 2020

In today’s active seller’s market with multiple offers, as a homebuyer, you need to make sure you’ve found an agent who’s truly committed to helping you find your next home at favorable terms. Southern California has become a seller’s market because there is currently low supply and high demand.

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Redfin

MARCH 5, 2025

Sellers may be more motivated to sell after having their home listed for a longer period, especially if they haven’t received any offers. Additionally, these homes often face less competition, giving you an edge in a market with high demand.

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Realty Biz

JUNE 30, 2021

As an entire group, 54% of Millennials believe it will remain a strong buyers’ market for at least another 12 months. In this tight market, buyers can expect it to take many months between first checking their credit score and when they’ll close on a home. Singling out Millennials, that number rises to 80%.

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HomeLight

JUNE 9, 2023

So if you’re buying a house and see a listing that’s contingent, it’s likely going to be fully off the market soon. If you receive a contingent offer as a seller, statistically speaking, that deal is likely to still close. Learn More Should I accept an offer with a home sale contingency?

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Norada Real Estate

APRIL 20, 2023

In this blog post, we will discuss the real estate contract and address common questions such as whether a seller can accept another offer while under contract and whether it is still possible to make an offer on a house that is already under contract. In some cases, a seller may be willing to accept a backup offer.

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RIS Media

MAY 15, 2021

The seller, despite having 13 backup offers, instructed his listing agent to contact “that agent” who came to his house with the “little girl” before putting the house back on the market—a testament that screams volumes about RomeoDiSantillo and how she puts herself out to the world. The kicker?

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HomeLight

SEPTEMBER 16, 2022

The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. A typical fee ranges between $100 and $500+ , determined by the market and negotiated terms, and is due three days after the contract’s start date. How much is a typical option period fee? Is this refundable?

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RIS Media

MAY 19, 2021

The contingent status typically allows the home to be shown to other possible buyers, allowing backup offers to be made. Lenders aren’t going to provide money for a property that the buyer’s offer has overvalued. – Withdrawn: This can happen if the seller has decided to pause showings and offers on the home.

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Realty Biz

JULY 25, 2023

At this point, the property is typically removed from the market and is unavailable for other showings. This protects the seller from having to take the property off the market and start over. Contingencies also help provide availability to sellers looking for backup offers.

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HomeLight

DECEMBER 31, 2020

Its price will fluctuate year over year due to changes in your local market, natural appreciation, developments in your neighborhood, and any home improvements you’ve made. You want to arm yourself with recent market data before meeting with an agent or appraiser. Source: (wavebreakmedia / Shutterstock). Check the FHFA HPI calculator.

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