Can you make an offer that is in a status for Back Up Offers?

Dated: April 11 2022

Views: 14

Well, the answer is YES.  Click Here to get further details as well.  When you see a home that is under contract, it doesn't mean that the house has sold and closed.  When the seller accepts a contract, it means that the seller has accepted the terms of the contract with that particular buyer.  Now, after the acceptance, the progression will go through some stages in order for the house to close.  

Stages could be:

1. Home / Radon or any other type of inspection.  (Buyers have an out if there is something they don't like on that inspection

2. Termite inspection

3. Appraisal which is the key to all the contingencies.  It will be how much the bank is going to be willing to lend to the buyer based on the appraised value.  With this current market right now, there are buyers paying the difference in the appraised value if needed.  But, there are buyers that can't afford to do that, or the appraisal variance may be too large as well.

So, it ain't closed until it's closed.  So, if you still like that house, but it's under contract, don't hesitate to ask myself to help out.  Your offer could be in second position and then be put in first position.  You never know!

We are here to help.  If you have more questions on this, click here and message me and I'll for sure get back to you!

Or, just feel free to contact myself at your convenience 402-301-1981

Kevin Baumeister

BHHS - Ambassador RE

Divine Realty Group

(402) 301-1981

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