Best Practices: Back Up Offers

In this video, Employing Broker, Paul Wineinger, reviews how to structure a back up offer from the buy-side and listing-side perspectives. He also provides a few insights on negotiation tactics, CTM tips & tricks, dates & deadlines, and helpful verbiage to include during a back-up offer scenario. 0:00 -- Intro and Context 0:28 -- Buyer-Side Back Up Offers 2:15 -- Frascona's "Back Up Position" Clause in CTM (How To Use & What It Means) 5:41 -- Using M.E.C. Deadlines Instead of Physical Calendar Dates & Deadlines 8:14 -- DEFINE When M.E.C. Deadlines Begin 9:55 -- Terminating Your Back Up Offer Before Writing Other Offers 11:40 -- Listing-Side Back Up Offers 12:13 -- Negotiation Leverage for a Seller 14:15 -- Have the Buyer's Agent Submit An All New Offer (Option 1) 15:20 -- Create A Counter Proposal (Option 2) 16:11 -- Outro & Call Us On the Support Line