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Bill, Home Buyer in Naperville, IL

If a property is in the contingent state, is it possible to submit a backup offer?

Asked by Bill, Naperville, IL Fri Feb 15, 2013

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You can always try to put a back up offer on a property - sometimes agents and owners will accept them sometimes they won't. On this property since its a short sale you have a better chance of obtaining an opportunity to become the primary offer since many short sale buyers will walk before the short sale is approved.

The home has been contingent since 10/22/12. Have your agent contact the listing agent and see if the homeowners will allow a back-up. Have your agent find out who the servicer is, if its one or two liens and what stage they are currently at.

I had a backup offer on one of my short sales and the original buyers were unable to meet the counter offer from the bank so the backup was given the chance and they agreed to it.

If you have any other questions, please feel free to contact me.
1 vote Thank Flag Link Fri Feb 15, 2013
Hello. I am the listing agent for the property and yes I will be happy
To talk about a back up offer with you and also review where everything stands. Please contact me directly at 630-913-4181. Thank you.
Web Reference: http://Www.marybremer,com
1 vote Thank Flag Link Fri Feb 15, 2013
Is there just the one outside pic? What is the condition of the place?
Flag Sat Feb 16, 2013
Yes, only if the sellers will entertain another offer. Realtors by law have to submit any & all offers to their sellers, however the sellers can advise their agents that they will not look at any other offers. Most will entertain them but a lot depends on how long the offer had been accepted. If their buyer already has their loan approval then I would say it would be very different for the seller to cancel that sale
1 vote Thank Flag Link Fri Feb 15, 2013
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