Contracts
An Alaska seller who accepts a backup offer must inform the backup buyer when the primary contract:
AIs signed by all parties
BFalls through and the backup offer becomes the primary contract✓ Correct
CReaches the financing contingency period
DIs recorded in the public records
Explanation
When the primary contract fails and the backup offer moves to primary position, the seller (through the broker) must promptly notify the backup buyer. The backup buyer then proceeds under their agreement — typically subject to their own contingencies from that point forward.
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