Home Buying in Houston>Question Details

Smitdog100, Other/Just Looking in Houston, OH

want to make an offer on a house under contract

Asked by Smitdog100, Houston, OH Sat Oct 9, 2010

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It's as simple as finding an agent to write the offer up. Your offer will be a backup offer if accepted, but that's not a bad spot with so many things falling through. Most people wouldn't want to be a backup offer, but it can always be a great opportunity. Patience pays off on occasion!
0 votes Thank Flag Link Sat Oct 9, 2010
In my area, you can always submit and request to be a back up offer. I have had buyers who have done this. Shortly afterwards, the seller's agent contacted me to advise that the initial offers has fallen through and if we would like to continue. Does it happen alot? Not really, but you never know.
0 votes Thank Flag Link Sat Oct 9, 2010
Go ahead then! You can always submit an offer. Nowdays, with so many transactions falling out of escrow, you have a very good chance of moving into first position.
0 votes Thank Flag Link Sat Oct 9, 2010
Smitdog100,
If the home you want to offer on is an owner occupied, no bank involved transaction; the best you can hope for is a backup position. If the first offer was to try and renegotiate due to inspection or other issues, and you have a strong back up, you may be able to slip in front.
If the home is a short sale, you may have a better chance. Banks want to see a strong offer and the seller will want to minimize their exposure to any deficiencies.
As John said, get a good local agent to represent your interests and advise you. Best of luck.
0 votes Thank Flag Link Sat Oct 9, 2010
get agent to submit, listing agent is supposed to present all offers. maybe you get backup status in first deal falls apart. Is first contract through attorney review?
0 votes Thank Flag Link Sat Oct 9, 2010
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