If the listing says active contingent or under contract. Should I still put my back up offer?

Asked by Sonyashrestha, Clackamas, OR Fri Sep 14, 2012

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Jennifer Fivelsdal’s answer
Jennifer Fiv…, Agent, Red Hook, NY
Fri Sep 14, 2012
I have seen things fall apart even at contract. This actually happened to me recently and I had to start over.
The agent will call the person who has a backup offer when this situation occurs. So I would say a backup offer won't hurt.
1 vote
Thank you for your help.
Flag Fri Sep 14, 2012
Wayne Olson, Agent, Portland, OR
Fri Sep 14, 2012
BEST ANSWER
If you like the house, have your real estate broker contact the listing (seller's) agent and ask if the seller(s) will accept a backup offer. If the seller(s) says yes, then do it! Just make sure to revoke the offer if you find another house and decide to make an offer on that house.

Good luck!

Wayne Olson
Windermere Cronin & Caplan Realty Group, Inc.
Lake Oswego, OR
(503) 389-3025
http://wayneolsonhomes.com
0 votes
Thank you.
Flag Sat Sep 15, 2012
Marvin Von R…, Agent, Tigard, OR
Fri Sep 14, 2012
Agree w Betsy. Id like to know what your agent says first. I do not like blindly jumping into the middle of a relationship
1 vote
Betsy Ballan…, Agent, Portland, OR
Fri Sep 14, 2012
What does your agent say?
1 vote
lukemeyerpro…, , Portland, OR
Sat Sep 22, 2012
Active contingent and under contract are two different things.... Call me if you want help. 503.754.2792 Luke
0 votes
Carla Muss-J…, , Portland, OR
Mon Sep 17, 2012
You should consult your buyer's agent for this type of thing. They're the ones that will guide you and consult with these type of things. We don't have "active contingent" or "under contract" as status on our listings. Are you sure you're in Clackamas?
0 votes
Tom Inglesby, Agent, Portland, OR
Fri Sep 14, 2012
Contingent is different than under contract. Have your agent ask the listing agent what is going on with the offer. Tom Inglesby
0 votes
Dragos Tavir…, Agent, Portland, OR
Fri Sep 14, 2012
If you are "crazy about" the property you can give it a try. Why not? What are the chances to get it? More like a roll of the dice. But it can happen. I had one early this year where my clients said "we're willing to wait" (knowing that was a short sale with an accepted offer; and it was a house in Clackamas). It turned-up that the buyers before us decided to move out of state. But I would say that we had a blind luck rather than real chances. Talk to you agent, see if the sellers are willing to entertain your offer (as a back up) and do what you feel you have to do. But I would advise to keep an eye open on other properties available and think more rational rather than doing with the heart. Good luck!!!
0 votes
Regina Ferron, Agent, Whittier, CA
Fri Sep 14, 2012
Hi Sonya, I would say yes! If the current buyer has an issue and has to cancel escrow, you will be next in line.
0 votes
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