What Does 'Active With Backup Offers' Mean?
Dec 17, 2019
Like any other type of business, the real estate world is filled with lingo that might not be discernible at first blush. Terms such as "pending" or "contingent," commonly seen in online listings, may be familiar, but what about "active with backup offers"? It's a scenario in which all parties allow the seller to continue advertising and entertaining additional offers, in case the first accepted offer falls through.