So, let’s say you’ve found the home of your dreams, but in a cruel twist of fate, it already has an offer on it. Well, it may be that you’ll just have to accept the loss and move on in your search, all hope is not lost.
Home purchase transactions fall through for all sorts of reasons, from contingencies not being met to financing issues, so it can’t hurt to position yourself to potentially pick up the pieces of a broken deal and get into a home you’d had your eye on. This is where the backup offer comes in.
Watch this video to learn what a backup offer is, when and how to make a backup offer. Watch out for more info minute videos every Wednesday and our Minuto Informativo videos every Saturday.
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