Once you have accepted an offer by signing using DocuSign or by physically signing a contract, you are bound by that contract unless it collapses.
Your listing will change to "Pending"
This will indicate to agents that you have Conditionally Sold. You will need to be placed in "Pending" status within 48 hours of accepting the agreement.
Back-up offers are great to consider
Having a backup offer is a great strategy, especially when your initial offer has conditions that could result in the sale falling through. The most crucial part of any backup offer is the inclusion of the seller’s condition “The acceptance of this offer is subject to the collapse of the already accepted offer collapsing“.
This protects you as a seller from accidentally agreeing to sell your home to two people, while also ensuring that you have plan B should your initial offer fall through. Sometimes backup offers may actually be better than your original offer. Regardless of this, you are legally obligated to follow the order in which you accepted the offers.
Should you accept another offer, you must add a seller's condition that says “The acceptance of this offer is subject to the collapse of the already accepted offer collapsing.”
If deal #1 does collapse, you must fill out a form disclosing the collapse of that contract. Please message us at email@example.com if this situation occurs.