Originally Published on November 12, 2016

You just lost a bidding war on the home of your dreams and your agent suggests that you make a backup offer. Should you bother? You just sold your home after multiple offers netted you more than expected. The other buyers were disappointed. Should your agent help you negotiate a backup offer? There is no magic answer, but my prevailing opinion is YES! Backup offers can be excellent tools for both buyers and sellers to shore up your position if the primary contract falls through, and that happens a lot. According to the Tucson Association of Realtors Multiple Listing Service, there are no statistics of how many transactions fall through, but I can tell you anecdotally from my own business and the experiences of agents in my own office, that it happens enough that it prompted me to write this article on the subject. READ MORE