An escalation clause is language inserted into a purchase offer for a home that’s intended to make sure a buyer is the highest bidder. It’s typically used when a buyer and their real estate agent strongly believe a house will receive multiple offers. An escalation clause states that the buyer will pay a certain amount of money above the highest offer the seller receives. It generally includes a ceiling cap to make sure the buyer doesn’t agree to pay more money than they can afford. An escalation clause can be a powerful technique when used correctly, but unfortunately it is seldom used as … (1 comments)
sellers market: Tips for Buying a Home in a Seller's Market
- 01/25/21 06:02 AM
Buying a home in a Seller’s market always has its challenges. But when you’re trying to do it in a seller’s market, the difficulty can reach a new level. When the market favors the seller, time is of the essence. Multiple offers happen with more regularity in a seller’s market than a buyer’s market, because a seller’s market is defined in part by low inventory and a surplus of home buyers. A beautiful home that is priced well can attract more than one offer. In a seller’s market, you should always assume you’re competing against several other offers. However, that doesn’t mean you can’t buy … (3 comments)
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