We've written about Back Up Offers in Real Estate several times before.
We encourage our Northwest Indiana Home Sellers to continue showing their property for back-up offers, even after an offer to purchase has been accepted.
There is a status on our local GNIAR Multiple Listing Service that reads:
PS = There is an accepted Purchase Agreement, yet the sellers wish the property to stay on the market.
When this Valparaiso, Indiana Home For Sale listed by
F.C.Tucker 1st Team Real Estate received an offer in just 1 month on the
market, our repeat client already knew from selling previous properties using our professional services that they would continue to show the home by appointment for back up offers only.
The real work in closing a transaction begins after the offer is accepted.
There was no interruption in plans for our home seller since the back-up offer became the primary offer immediately after fully executed mutual release from the 1st offer.
Duty to our clients includes reasonable care and dilegence.
Not all back up offers become primary offers, however they can.
Continuing to show the property after an offer is accepted is a practice option that we explain to all of our clients - it's like having a plan B in case the 1st offer does not close escrow.
If you are thinking about selling your Northwest Indiana Home, give us a call @ 219-405-1232, we would appreciate the opportunity to talk with you!
Related Blog Post: Back Up Offers with Short Sales Third Time's The Charm.
About The F.C. Tucker Company
We are the largest independent real estate firm in Indiana.