escalation clause: Escalation Clauses in Real Estate Contracts
- 04/13/13 03:19 AM
The first thing I remember learning in real estate licensing school was that no matter who an agent works for --- buyer or seller --- all parties to the contract must be treated fairly. We don't think much of that on the face of it because most of us think we always treat clients fairly. But very recently I was confronted with a practice I've never encountered in my almost-25 years in real estate: the Escalation Clause. An escalation clause says something like "my clients will beat all offers by $2,000 up to $750,000." It might be worded more gracefully, but … (3 comments)
The first thing I remember learning in real estate licensing school was that no matter who an agent works for --- buyer or seller --- all parties to the contract must be treated fairly. We don't think much of that on the face of it because most of us think we always treat clients fairly. But very recently I was confronted with a practice I've never encountered in my almost-25 years in real estate: the Escalation Clause.
;)
;)
