Back-Up Offer: An offer made to a seller when there is already an accepted offer on a home. A seller accepts back-up offers when he would like to have another offer in place in case the first buyer backs out or is unable to meet contingencies.
Back-Up Offer: An offer made to a seller when there is already an accepted offer on a home. A seller accepts back-up offers when he would like to have another offer in place in case the first buyer backs out or is unable to meet contingencies.