A backup offer is when a home seller has accepted an offer from a buyer, but is still accepting offers from other buyers. Sellers state that they are accepting backup offers if they think the current offer may fall through.
$2,300,000
$1,900,000
Biscayne Park12240 5th Ave, North Miami, Florida 33161
Real estate owned, or REO, is a term used to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction.