The main downside to putting in backup offers is that you’re taking time and effort to put together a proposal to buy a home that you typically have a slim chance of getting. Having your heart set on a particular house shouldn’t stop you from finding other houses that are actually on the market and could be right for you. Moreover, there’s always a reason a contract falls through, and it’s important to know what that reason is so that you can avoid any pitfalls. If you do put in a backup offer, you obviously want to make it stand out. One way to do that is to offer more than the seller’s asking price.