Contracts
A backup offer in an Oklahoma transaction is an offer submitted:
AAfter a contract has been terminated
BWhile the property is already under contract, to take effect if the primary contract fails✓ Correct
CBefore the listing period begins
DOnly after a price reduction
Explanation
A backup offer is a secondary offer on a property already under contract. It is held in reserve and becomes the primary contract if the existing contract is terminated. Both parties must agree to the backup offer's terms.
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