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BACKUP OFFER ADDENDUM1. THE PARTIES. This Backup Offer Addendum (\”Addendum\”) made this [MM/DD/YYY] is by and between:Seller: [SELLER\'S NAME] (\”Seller\”) buyer: [BUYER\'S NAME] (\”Buyer\”).
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How to fill out this backup offer addendum

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How to fill out this backup offer addendum

01
Start by reviewing the backup offer addendum form to understand its contents.
02
Make sure you have all the necessary information and documentation required to fill out the addendum.
03
Begin by entering the necessary details of the original offer, including the property address, buyer and seller information, and offer terms.
04
Identify and acknowledge the contingency or condition that triggers the backup offer.
05
Specify the terms and conditions of the backup offer, including the purchase price, financing details, and any additional contingencies.
06
Include any special instructions or provisions that are relevant to the backup offer.
07
Carefully review the completed addendum to ensure accuracy and clarity.
08
Sign and date the addendum, and make copies for all parties involved in the transaction.
09
Submit the backup offer addendum to the appropriate parties, such as the seller, listing agent, or escrow officer.
10
Keep a copy of the filled-out addendum for your records.

Who needs this backup offer addendum?

01
This backup offer addendum may be needed in real estate transactions where there is an existing offer on a property, but the buyer wants to submit an additional offer as a backup option.
02
It is typically used when the original offer has contingencies or conditions that could potentially fall through, allowing the backup offer to become the primary offer.
03
Both buyers and sellers may need this addendum, as it outlines the terms and conditions of the backup offer and helps protect the interests of all parties involved in the transaction.

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The This Backup Offer Addendum ("Addendum") made this MM/DD/YYYY is by and between: is a writable document required to be submitted to the specific address to provide certain info. It needs to be completed and signed, which can be done in hard copy, or by using a certain software such as PDFfiller. It allows to complete any PDF or Word document directly from your browser (no software requred), customize it according to your needs and put a legally-binding e-signature. Right after completion, user can easily send the This Backup Offer Addendum ("Addendum") made this MM/DD/YYYY is by and between: to the appropriate person, or multiple recipients via email or fax. The blank is printable as well thanks to PDFfiller feature and options presented for printing out adjustment. In both digital and physical appearance, your form should have a organized and professional outlook. You may also turn it into a template to use later, there's no need to create a new blank form over and over. All that needed is to amend the ready document.

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The backup offer addendum is a document used in real estate transactions to ensure that a backup offer is considered if the primary offer falls through.
The backup offer addendum is typically filed by the buyer who wishes to submit a backup offer on a property.
To fill out the backup offer addendum, the buyer should provide their details, the property information, the terms of the offer, and any contingencies.
The purpose of the backup offer addendum is to protect the buyer's interests by securing their position as a backup should the first offer not be successful.
The information that must be reported includes the buyer's name, the property address, the offer price, and any specific terms or conditions.
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