You can sign up on my website to see if there is a comparable property in the area:
http://www.ziprealty.com/agent/lpuniwai
Let me know what it is about this home in particular that you fell in love with.

I am happy to write a back up offer or contact the listing agent to see how strong the current transaction
appears and if they will accept a back up offer!

I look forward to hearing from you!

Lucy A. Puniwai
Realtor
ZIP Realty (our Buyer's receive 20% of our commission!)

I too would suggest submitting an offer as a back up. If it is still in the option period, they may still be negotiating and if the owner knows that there is another contract, he may refuse to do repairs etc. so it may come back on the market and your contract will become primary.

Have your agent look for the same floorplan for sale in the neighborhood or around it.

Good luck,

Naima
214-289-8555
Naima@Sumner-Realty.com

In New York, a listing agent is obligated to submit all offers until closing. It is seldom that a seller backs out of a signed contract as there can be legal ramifications but the offer does have to be presented. In any case, you can have your agent put your offer in writing. You might also want to add a letter from you and your wife explaining why you love the home. In this market, sometimes a deal does fall apart and then they will know they have a great back-up offer to go to.

Your only option would be to have your agent determine whether back up contracts are being taken. if so,you could put in a back up offer in case the first one falls through. Otherwise look for another house.