Contracts
In Oregon, a 'backup offer' in a real estate transaction means:
AA second offer submitted when the first offer is rejected
BAn offer accepted by the seller that becomes binding if a prior accepted offer falls through✓ Correct
CA counteroffer submitted by the seller to a backup buyer
DAn offer made at a higher price to back up the original offer
Explanation
A backup offer is an offer on a property that is already under contract. The seller accepts the backup offer with the condition that it only becomes binding if the primary contract fails. This protects the seller if the primary transaction falls through.
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