It means that there is a contract pending on that house but they are accepting back up offers which would come into play should the first contract fail to close.

Hi Bragi, what this means is that you must make your decisions faster :)

Happy Hunting!!

David Van Noy Jr.

When we get an accepted contract on a listing, we are required to enter the info into the MLS. We have "codes" we use and one is back up. When you see a listing in back up status, it means there is an accepted contract on the property but that the seller still wants showings incase the 1st contract falls apart for some reason (like financing.) If a contract is contingent upon the sale of another home, we put those contracts in contingent status. If you want to look at a home in either back up or contingent status, have your agent contact the listing agent to determine the status of the 1st contract.

Bragi,

Simply stated, it means there are multiply buyers and/or interested parties in the subject property. One offer has generally been accepted while the others wait their turn in the event the sale does not work out for the buyer in the "first" position.

It means that a contract is already in place, but the seller is willing to accept another contract in a backup position in the event something happens with the first contract. The backup contract would then move to the 1st postion.