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South Florida real estate developer Martin Margulies has been sitting on prime ocean-front property ...
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Back-Up Contract

A contract or offer that is in a secondary position to an already existing contract. This contract shall be elevated to the first position if some condition in the first contract is not met. If the first position contract is consummated, then the second contract is no longer in effect.

See also:
  • Back-Up Contract
  • Balloon
  • Bankruptcy
  • Bill of Sale
  • Binder
  • Bridge Loan
  • Broker
  • Buyer
  • Buyer`s Agent

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