 Hi, this is Michelle Getzinger and I'm here with some real estate tips and definitions of terms that you're going to hear throughout your transaction. If you're already in the process and you've put in an offer on a house and you've lost the offer, a lot of times you'll hear about a term called a backup offer and it sounds really great on paper. So let's talk about what a backup offer is. So a backup offer is there's a multiple offer situation or a great offer that the seller accepts but you are still really interested in the house and you want to be there in case that deal falls apart. So one way that you can do that is you can put in what's called a backup offer. But here's the problem, there can only be one backup offer to every offer and once you submit that backup offer and they accept it, you no longer as a buyer can go and put offers in on any other houses so it really ties you down. Myself as an agent would recommend that you don't put a backup offer in unless you know that there's possibility that that deal is going to fall through or you love it that much that you're willing to put your life on hold for the duration of that transaction. So once you commit to a backup offer, you're committed to it until that deal closes and then you're released from it. So that's why I think that backup offers aren't really the best thing. If you're really wanting that property, you can keep your eyes peeled if it falls apart, have your agent, be in contact with that seller's agent and they'll call you as soon as it falls apart which happens on occasion but not all the time. But you also should be keeping your options open to move forward to other properties too because sometimes once the offer is accepted and the property is under contract it's really hard for that deal to fall apart too. So I hope that clears up what a backup offer is and why sometimes it's not beneficial for you and you should really think twice before you make that commitment. I hope that helps and I look forward to helping you in any way I can. Don't hesitate to leave any questions or comments below and thanks for watching and I'll see you next time.