I was reviewing our pipeline, and I realized the majority of our closings were on back up offers.  So many people don't want to look at homes that have an offer pending, but I wonder if that might be the wrong way to look at things.  Is anyone else finding that one of your back up offers is usually the final buyer?

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In my experience the 1st buyer rarely ends up in the house.  The 1st offer gets the process going, gets the bank to order the appraisal.  That buyer gets tired of waiting and the next buyer ends up with the house.  

What is aggrivating is pending a property, getting an approval a few months later then the buyer does inspections and does not want the house due to a leaky fuacet. Or they found an REO and closed and moved in while you are trying to get the short sale approved and their agent forgot to let you know.

Now my sellers demand escrow up front and all time periods to begin once under contract, not upon bank approval. The buyer could be out the cost of the inspection but my seller has a lot more to loose than $300.00

I often close with the first buyers, but always accept back ups..just to be sure.  I do not open Escrow with deposits and home inspections.  If they are not motivated to buy THAT property, let them walk.  If they REALLY want it, they stay in the game..
I just took a look, 80% of our buyers who made the first offer end up with the house.  The rest are the second buyer with a rare few that go beyond 2nd buyer
If it is our short sale and our buyer we will get it closed.    We have a problem with other agents and their buyers.
We wait for approval. 

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