Legal Question in Real Estate Law in California

The term "On Hold" is not a legal term of art, rather, it is a term the the Multiple Listing Association (MLS) uses. In fact, it is not correct to say "On Hold." The correct term is "HOLD DO NOT SHOW," which does not necessarily mean you cannot submit a backup offer, but it very likely means you are wasting your time submitting an offer. Unless you have an exclusive Buyer's Agency arrangement with your Realtor, consider finding an agent who will be more assertive and at least try to submit the offer.

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I agree....you need to make it clear that you're ready, willing and able to step in and pay at least as much, or perhaps a little more, IF the current deal falls through. Be assertive, in a polite way, of course. Also, try to find out if the offer ahead of yours was made by a speculator or someone who is also in love with the property. It might be back on the market soon.