Contracts
Vermont's 'backup offer' in a multiple-offer situation means:
AA second offer on a different property
BAn offer submitted contingent upon the primary contract falling through✓ Correct
CAn escalation clause offer
DA lower offer used as a negotiating tool
Explanation
A backup offer is submitted and accepted as the second-position offer, becoming the primary contract if the first accepted contract is terminated. It provides the seller a ready buyer if the primary deal fails.
Related Vermont Contracts Questions
- Vermont's 'mortgage contingency' deadline in a purchase contract requires the buyer to:
- Which of the following is NOT a way a Vermont real estate contract can be terminated?
- A Vermont buyer makes a purchase offer that includes an earnest money deposit of $5,000. The seller accepts. If the buyer defaults, the seller's typical remedy under a liquidated damages clause is to:
- In a Vermont lease option arrangement, the tenant-buyer's option consideration:
- Vermont's home inspection contingency period is typically:
- Under Vermont law, a real estate purchase and sale agreement must be:
- In Vermont, an option contract gives the optionee (buyer) the:
- Vermont's 'pre-purchase disclosure' for new condominium units sold from a public offering statement requires:
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →