This is a great question to run by your real estate consultant.
How many of their listings 'close' with the first accepted offer?
How often would their seller have benefited by having an optional buyer?
How often does buyer number two pay MORE?
Success is the byproduct of preparation....and luck.
Be aware, this strategy is contrary to "I don't want to cuase someone to lose a home they are pending on." That comment does not give great confidence you are in a real home aquisition mindset.
A back up offer will make the seller less willing to negotiate.
A back up offer sets the stage for the existing buyer to get kicked to the curb if this buyer listens to the unsubstaniated opinion of their home inspector. (Pay close attention to that last statement. INspectors gone "GOOFY" can sink an existing deal)
A back up offer can make persent terms MUCH more attractive. Bigger downpayment, smaller percent fainanced, all bring a smile to a seller lips. If the existing buyers does something stupid, you will be in play. How far you can advance your positing will depend on local laws and real estate practices.
As a listing agent I pursue back up offers. If a buyer reopens negotiations, there will be a suprise waiting in the wings.
How do you do it? With the co-operation of a real estate consultant. Your consultant will know the CO real estate market and shed more relevant light on what is probable in Lone Tree.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL