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Reply to "Escalation clause questions"
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[quote=Anonymous]Escalation clauses are all over the place in this market. Speaking as an agent in the business for almost 9 years, fake offers aren't doctored up to up the price. Besides being horribly unethical, it is not worth losing our livelihood. And I know it's an uncomfortable thing to think about, but it is a much better way to manage multiple bids than just saying "put your best and final offer forward" blindly. At least this way, you have the chance to get the house for less than you would actually pay for it. And regularly, my clients who use them DO get it for less than their cap. It just works. Even in hushed tones or whispers, I've never, ever heard of fake offers actually coming into play.[/quote]
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