Back up offers on pendings

[Melodee Lucido]

Hey all,

I did a search and didn't find anything on this topic.

I was chatting with an agent to day about a killer prop---total rehab in Sta Barbara---and he said it's pending---for the 2nd time and he'd like a back up offer. Seems an unscrupulous investor tried some sneaky tactics and wasted the seller and agents time.

I don't have anyone lined up yet as a cash buyer but we'll see. I'm wondering if any of you rehabbers ever do a back up offer. This isn't a pitch for the prop. It's a genuine inquiry. I've never done a back up on a pending.

What do you think?

[Brian Burke]

Yup, sure have, and I've had the primary deal fall apart, allowing me to move up to primary without the property going back on the market. If you really want the property, the only way to guarantee that you WON'T get it is to not submit an offer.