BEST ANSWER
FIRST ANSWER
Hi Judy,
If a contract has already been accepted on a property then that contract must be followed through with. The seller can however negotiate and come to terms with a "Back-Up" contract that would be in effect should the first contract fail to close. This is not a very good strategy for a buyer as a buyer has no certainty that they will even have an opportunity to close on the property while they are investing time and money for inspections, appraisal etc. Hope this helps.
Sun Oct 11 2009, 02:55