What is a Backup Offer in Real Estate?
Buying or selling a home can feel like a reality TV show—plot twists, cliffhangers, and the occasional drama. You pull up the home on Zillow. You pause. You stare. You drool. You heart it and save it and refresh it. You finally go see the home with your badass agent and you love it. You think you have time to think about it, but then BOOM! The dream home has gone under contract.
Enter the backup offer: your chance to be the understudy in the biggest production of all—home buying.
How a backup offer works in real estate.
Simply put, a backup offer is an offer you make on a house that’s already under contract. The first buyer gets the spotlight, but if their deal falls apart, you’re next in line. It’s like calling “dibs” on a slice of cake at a party—you may not get it, but if someone sets their fork down, it’s yours.
Why Buyers Make Backup Offers
Stay in the Game
You don’t have to go sulking back to Zillow when your dream house goes pending. A backup offer keeps you on the roster in case the first deal fumbles.Skip the Drama of Bidding Wars
If the home hits the market again, you’d normally be fighting off a new crowd of buyers. With a backup offer, you’re already holding the “fast pass.”Peace of Mind (with a Side of Hope)
It feels good knowing you’ve got a shot, even if it’s not guaranteed. Like buying a lottery ticket—but with much better odds.
Why Sellers Love Backup Offers
Built-in Safety Net
If the first deal collapses, sellers don’t have to start the whole dating process over again. You’re right there, ready to commit.Leverage
The first buyer knows someone else is waiting in the wings. It’s like telling your date, “No worries if you cancel—I’ve got another dinner lined up.”
Things to Keep in Mind
Contingencies Still Count
Even as the backup, you still get the right to inspections, financing, and all that good stuff.Not a Sure Thing
Most deals close, so don’t pin all your hopes here.Timing Is Everything
If you fall in love with another property while waiting, you’ll need to choose: backup position, or move on to your next fling… er house.
Should You Make a Backup Offer?
Go for it if:
You really, really love the house.
You’re cool with waiting it out (patience is a virtue… and also a requirement).
You’re okay with the possibility that nothing happens.
For sellers, the answer is almost always: yes. Backup offers are like having an umbrella in your car—it doesn’t cost anything, and you’ll be glad it’s there if things get stormy.
Final Thoughts
A backup offer in real estate is basically your chance to be the understudy who sometimes ends up stealing the show. For buyers, it’s about keeping hope alive without too much heartache. For sellers, it’s free insurance and a smoother path to closing.
So whether you’re “waiting in the wings” or keeping a backup buyer on deck, backup offers are proof that in real estate—as in life—it never hurts to have a Plan B.