backup offer is an offer to buy, submitted to a seller, with the understanding that the seller has already accepted a prior offer; a secondary offer. Sometimes the seller accepts the backup offer contingent on the failure of the sales transaction on the part of the first purchaser within a specified period of time. The seller must be careful how he or she proceeds, however, when the time for the buyer's performance, under the first contract, has expired.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). backup offer. Retrieved October 2, 2026, from http://smartdefine.org/backup_offer/definitions/1148255 |
| Chicago | Barry Goldsmith. 2010. "backup offer" http://smartdefine.org/backup_offer/definitions/1148255 (accessed October 2, 2026). |
| Harvard | Barry Goldsmith 2010, backup offer, Smart Define, viewed 2 October, 2026, <http://smartdefine.org/backup_offer/definitions/1148255>. |
| MLA | Barry Goldsmith. "backup offer" 21 October 2010. Web. 2 October 2026. <http://smartdefine.org/backup_offer/definitions/1148255> |