Contracts
In South Dakota, a 'backup offer' in a real estate transaction means:
AAn offer made by the buyer's bank guaranteeing payment
BA secondary offer accepted by the seller contingent on the first accepted offer falling through✓ Correct
CAn offer to purchase with a lower price as a fallback
DA counter offer backing away from the seller's initial asking price
Explanation
A backup offer is a secondary purchase offer accepted by a seller who already has a primary contract in place, contingent on the primary contract being terminated. If the first transaction falls through, the backup offer automatically becomes the primary contract.
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