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Updated about 7 years ago on . Most recent reply

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48
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8
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Ann N.
  • Real Estate Investor
  • Chicago, IL
8
Votes |
48
Posts

can you take back up offers on a deal if you suspect a buyer is

Ann N.
  • Real Estate Investor
  • Chicago, IL
Posted

if you think your buyer is getting flaky... can you take back up offers on a deal you are going to assign at closing?

Most Popular Reply

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689
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Blair Poelman
  • Real Estate Broker
  • Provo, UT
511
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689
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Blair Poelman
  • Real Estate Broker
  • Provo, UT
Replied

Check your state laws to be sure, but I would expect that you can take a backup offer.  

You would likely be required to tell your backup that he/she is in a backup position, but I'm not aware of any law in any state I've worked in recently that would prevent any seller from taking a backup.

most backup offers are going to come with the backup position disclosure, which should include a clause saying that if your primary buyer closes, the backup offer is cancelled.

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