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Reply to "Escalation clause questions"
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[quote=Anonymous][quote=Anonymous]We recently put a bid on a house (a distressed fixer but not a short sale/foreclosure) and we didn't get it, which is fine. However, the sellers agent said one of the other offers included an escalation clause. And that got me thinking A.) people actually do those in this housing market? and B.) how do you include an escalation clause without signaling to the seller they'd be stupid to accept your initial offer or anything close to it? Does the seller have to prove they have another better offer to activate the escalation? [/quote] Short answer is yes, they need proof. Do I trust real estate agents not to collude on something that makes them both money? Not really. We just lost on a bid too, so I'm a bit annoyed at how realtors have created this complex that apparently only they can navigate. Feels like such a sham to me. [/quote]
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