Contracts
In Alaska, a 'backup offer' is:
AAn offer made by the seller's agent on behalf of the buyer
BAn offer accepted by the seller as a secondary offer that becomes primary if the first contract falls through✓ Correct
CA second mortgage placed behind the primary loan
DAn offer to purchase with a seller concession for closing costs
Explanation
A backup offer is accepted by the seller in a secondary position — it waits in line and automatically moves to primary position if the primary contract is terminated. The backup buyer is legally bound to their offer while it waits, but can usually withdraw if they find another property.
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