back-up offer

WA - what are the pros & cons of presenting a back-up offer on a house? Do we need to include a statement that allows us to continue looking for other properties while waiting? (Our agent's standard form allows us to rescind at any time up until we receive notification of termination of agreement with first buyer.)

[HomeGuru]

Tell me what your real estate agent says.

Our agent said the con theory is that a back-up offer may make Buyer #1 more careful to meet deadlines, not try to negotiate more, etc. The pro theory is that it guarantees our offer becomes active when/if the current sale contract terminates. Are there other issues?
We really want this piece-of-?/*&! house with the faboo view & market there is heating up so we are leaning toward submitting the b/u contract. We have added statements to spell out conditions: our b/u contract is #1; notification to us of termination of current sales contract must be written release signed by all parties of same; we can terminate at any time up to notification & our earnest money is refunded; we reserve our right to continue property search.
Other ideas/advice? thanks!!

[HomeGuru]

I agree with your agent.