WebYou could put in a backup offer. A backup offer says that if the primary offer falls through then your contract will become active immediately once the seller notifies you of the termination of the first contract. Web©Texas Association of REALTORS®, Inc. 2004 Seller: Buyer: Re: The contract concerning the Property at In accordance with the “Addendum for Back-Up Contract,” Seller notifies Buyer that: (1) the First Contract is terminated; (2) the contract with Buyer is no longer subject to the contingency described in the addendum; and ...

Casandra Staacke - Real Estate Broker Associate

WebMar 10, 2024 · If the contract terminates, the backup contract moves into the primary position. As always, there are a couple of important items to note and to make this … WebOct 31, 2011 · The seller can accept multiple backup offers, in which case they are ranked: backup offer No. 1, backup offer No. 2, and so forth. It’s rare in the current market for there to be more than one ... camping narooma new south wales

Title Tip: What is a Kick Out Provision and Do I Want One?

WebApr 17, 2024 · The status of real estate in Texas can sometimes be a tricky thing, especially if you don't use these terms very often. Some of the most confusing terms: Active Option Contract; Kick Out; Contingent; Backup; and, Pending (just to name a few). Some of these status terms mean that you can still buy the house. WebA Back-Up Contract is a binding contract and as such both option and earnest money must be paid (and delivered) per the terms of the contract. It is mistakenly believed that holding … WebJul 27, 2024 · A backup contract is an unaccepted offer. Because the seller has accepted the primary contract, he cannot accept a backup contract unless the primary contract is dead. At that point, he would be free to accept the best backup offer. Read More: What Is the Proper Amount of Time to Back Out of a Real Estate Contract? Benefits fir trail therford forest