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Would you advise your buyer client to be in a back-up position?
With the real estate market low on inventory of homes in the lower price point and multiple offers the norm, would you advise your buyer client to sign off on being in a back-up position?
Upon discussing this with my clients, we had to take into account that we might be missing out on other homes. On the other hand, being in a back-up position is an easy out if they did find something.
Needless to say, we are looking at another home tomorrow.
To answer the question, yes, I would advise my client to sign that back-up right up to the point where they are putting in another offer, getting their offer accepted, and opening escrow.
The backup?
Sorry, we have to let you go, back-up offer.
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