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What Does It Mean When A Real Estate Listing Is In Back Up Status?
ORANGE COUNTY CA HOME BUYERS CONFUSED BY REAL ESTATE LISTINGS IN BACK UP STATUS
What does it mean when a real estate listing is in Back Up status? This is question that I continually receive. It seems that Orange County, California home buyers are confused by the term Back Up status, and how it differs from Pending status. Below, I explain what Back Up status means, and why it's important to you, if you're interested in a home that's currently listed in this category.
THE DIFFERENCE BETWEEN BACK UP AND PENDING REAL ESTATE SALES When a real estate listing is placed in either Back Up status or Pending status, that means that the owner has accepted an offer on the property, and escrow has been opened to complete the sale. However, there is one key difference between a property in Back Up status versus a property in Pending status:
A property in Back Up status is typically still available to visit, and the owner will continue to accept offers, as a back-up, should the first, accepted offer be cancelled for any reason. On rare occasion, the owner does not wish to show the property any longer, and asks that potential ... more

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