Sometimes the house you like already has a signed contract when you see it. A backup offer is an offer you make on that house, so you are in second position if the first contract is canceled.
My article explains how a backup offer works in Texas and what happens to your earnest money while you wait.
The full article is on my website, What is a backup offer, and how does it work in Texas?
Si quieres ver el artículo en español, sigue este enlace: ¿Qué es un backup offer y cómo funciona en Texas?
Lliliam Foster, REALTOR® — Compass. General information only; not legal or financial advice. Compass is a licensed real estate broker in Texas.