Contracts
In Colorado, a 'backup offer' (backup position) in the Contract to Buy and Sell allows:
AThe seller to accept a second offer held in reserve in case the first contract fails✓ Correct
BThe buyer to purchase land in installments
CThe broker to maintain a list of interested buyers
DThe seller to reject all offers for a specified period
Explanation
A backup position in Colorado allows a seller to accept a second offer in a subordinate position. If the primary contract terminates, the backup offer automatically moves to primary status.
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