The need for back up offer in real estate

[Augusta]

In real estate, it is possible for another buyer to be interested in a property that's under a contract with another buyer. This is no illegal thing to do. So if you are interested in purchasing a property that is already under contract with someone else, all you need do is to submit a backup offer.

The need for this is in case the first transaction falls apart. you can be the next in line to take up the buying contract. The good thing about a backup offer is that you as the new buyer can still negotiate with the seller to give your own terms for the purchases.

However, there can only be one backup offer per time for a buyer