Contracts
A 'backup contract' in Georgia means:
AA. A secondary listing agreement with a backup broker
BB. A contract to purchase a property if the primary contract falls through✓ Correct
CC. An addendum that extends the closing date
DD. A contract written by the seller's attorney
Explanation
A backup contract is a purchase agreement contingent on the primary contract failing to close. The backup buyer moves into position only if the first buyer's contract terminates. GAR provides a specific Backup Agreement exhibit.
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