It is critical to remember that once you have accepted an offer by signing the Purchase Agreement using DocuSign or a physical papers, you are bound by that contract unless it collapses.
When a conditional offer is agreed by all parties your listing status will change to "Pending" on MLS.This will indicate to agents that you have Conditionally Sold your property. You will need to be placed in "Pending" status within 48 hours of accepting the agreement so be sure to keep us in the loop if your offer was agreed offline.
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, you are legally obligated to follow the order in which you accepted the offers.
If deal #1 does collapse, you must fill out a form disclosing the collapse of that contract. Please message the Bōde team via the chatbot if this situation occurs and we will assist you.