A backup offer can benefit buyers and sellers in uncertain situations. Remember: Don't assume your real estate deal is done until the final signatures are on the closing documents.

It’s easy to assume a deal is done once the offer is signed and the inspection goes smoothly. But as we’ve seen time and again, nothing is truly final until the closing documents are signed. That’s why we always remind our clients, both buyers and sellers, to stay flexible and keep a backup plan in place.

From the seller’s side. Just last week, we had a seller accept what looked like the perfect offer. The buyers were enthusiastic, the inspection report came back clean, and everyone was moving confidently toward closing.

Then, unexpectedly, we got a call on Sunday morning: the buyers were backing out due to personal reasons completely unrelated to the property.

We didn’t waste a minute.

We had planned an open house that weekend and decided to move forward with it, just in case. That decision paid off when one of the attendees expressed immediate interest upon learning the home was back on the market. 

They submitted an all-cash offer, reviewed the previous inspection report, and felt confident enough to waive a new inspection. As a result, we’re now set to close in less than three weeks.

From the buyer’s side. We also recently worked with a client from New York who was interested in a property listed at $1.8 million in Hollywood. We submitted an initial offer of $1.3 million and, after some negotiation, reached a verbal agreement at $1.36 million.

Knowing the window of opportunity could close quickly, we urged our client to move fast. Once a seller mentally commits to that number, anything higher feels like a win, and that’s exactly what happened.

”Never assume a deal is done until we’re at the closing table.”

Over the weekend, the seller hosted an open house. Another buyer came in and offered $1.425 million. Despite our favorable terms, a 30-day close, and an all-cash deal, the seller took the higher bid, which was over $60,000 more than ours.

Naturally, our client was disappointed, but we encouraged them to submit a backup offer anyway. Deals can fall apart for many reasons, and being next in line can be a valuable position. We adjusted the offer slightly, and they’re well-positioned should the primary deal fall through.

A deal isn’t done until it’s done. When we represent sellers, we continue marketing and stay proactive. When representing buyers, we stay engaged and encourage strategic backup offers, not as a formality but as a smart move.

Real estate isn’t about waiting passively. It’s about staying ready, making informed decisions, and adapting. That’s what we’re here to help you do.

If you have questions or need guidance, call us at (561) 843-4464 or email dankarp@kw.com or laurie@activeluxury.com. Whether you're buying or selling, we’re ready when you are.