You may first be asking what is a DE - Escalation Clause? I was not even sure this was a thing until this cash buyer called. He asked for my assistance in buying a home. We met and he he told me if he hired me, we had to use "his plan" to purchase a Manchester New Hampshire area home.
His plan was to offer more than the asking price. A cash offer with no contingencies. The kicker is that the seller has 1 hour to accept.
If the seller did not accept in an hour, his offer reduces by the $40,000 he added to the asking price.
If the seller does not accept in 2 hours. He wants to withdraw his offer and make one on another property. He said he is sick of the games. Sick of delays and sick of waiting 7 days for sellers to answer offers.
As i pondered his request, he told me he had another buyer agent who refused to write this offer on another home he had liked. He fired them. He got on FB and asked his friends which agent in the Manchester area would give him great service. Many referred me and that is who he chose. So on his plan, it was aggressive, but beneficial to a seller who wants a great offer quick.
Our story starts a couple weeks back. We found a home he fell in love with. Sure enough the agent said they would not accept offers for 7 days before deciding. We saw the home, wrote the offer and presented it. One hour went by and the agent refused to present it early. Sure enough after 2 hours my buyer signed a withdrawal of the offer.
I knew of another home owner in that neighborhood that was thinking of selling later in the spring. The home owner invited us to see the home. He loved it. The home owner though, did not want to close until Spring. It was actually only about 8 weeks away back then. He made an offer and the seller jumped on it. We had a very happy buyer and seller.
Fast forward a week and the seller of the first home was talking to the seller of this new home. The seller told my seller he got full price. Now the buyer had told the new seller the story. SO when the new seller told the first seller, they were beyond upset. They never told the agent to hold offers for a week. The agent told them that was how "they do it". That seller lost $40,000 by his choice of who to list with. He was taking it up with his agent.
The moral of the story is that it is important that every Buyer or Seller should not just choose any agent, choose the BEST agent for the job. Having an agent that works for you is a must.
My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.
We stand by you through every step in selling your home
.
Comments(42)