It would only be on paper and that is it. You would make your EMD the same as you would if you were not in a backup position. Not know what the deal is on the home that you are going to be in backup on I can't really tell you much more than that.
Are you talking about the deposit that accompanies an offer? The deposit for a back up offer is usually no different than a normal deposit. It can be any agreeable amount but generally the check is held uncashed until the offer is accepted. The amount of the deposit indicates the seriousness of the offer....so the higher the deposit, the more seriously an offer is taken.....
That is why I encourage my clients to put in back up offers on several properties. If one back up offer eventually becomes accepted, the other offers can be withdrawn.
If this isn't helpful, please feel free to call me...714-381-1723
Linda M. Lukas
A typical down payment should be about 3% of the purchase price.
As there are multiiple offers now and homes selling right away, the more depost you put down, the stronger your offer is..
so base it on that.
Good luck on the back up offer.