If your dream home happens to be pending, it might be worth taking a look and writing a ‘backup offer’.
A buyer’s agent can show their client any home as long as the listing agent and the seller approves the showing appointment.
Other buyers might be willing to take a chance on a backup contract, hedging their bets that the current deal could fall apart. On average, 1 in 5 deals do fall apart. In a red-hot seller’s market in which homes come on the market and are instantly gobbled up for full price or more, one of the best places to find a deal can be on a pending sale.