Backup Offers for Real Estate Transactions

Backup Offers: Why You Should Submit Them!

I met my buyer client at an open house near the University a couple months ago; he told me "We like old houses." Fast forward one month, we meet at the Keller Williams office on College Ave. to discuss what type of house he and his wife are looking for in Fayetteville.

I told him what I tell all of my clients: Take your time. There is no pressure from me, but when THE house you want hits the market, I will jump all over it and work hard to win it for you. Even if it takes a year, I'll be here for you. What happened next was...unexpected.

My client left the KW office to grab lunch at the Ozark Natural Foods CoOp, taking the scenic route through the Fayetteville Historic District. He saw a listing sign at a house he thought sold months ago, so he calls me to ask if we can see it after work. The listing shows PENDING on the MLS so I call the agent to see what's up.

"You must be psychic" the listing agent says, "I'm trying to update the listing to accepting back up offers right now.”

After being under contract for over 45 days, the sellers were ready for an alternative buyer. We used several buyer strategies in our offer (linked below) and were selected as Position #2, which is subordinate only to the existing offer. 30 days later, we closed!

311 E Prospect is almost 100 years old. When College Ave was expanded, it was moved from College to the corner of Prospect & Willow Ave. My buyers couldn't be happier but they did apologize that it didn't take a year (more like an hour!) Seems to me God teed that deal up for us and I am grateful.

Tips for Writing Winning Offers: https://adamsellsfayetteville.com/buy/how-to-make-a-winning-offer-on-a-house

311 E Prospect, Fayetteville, AR 72701