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Reply to "Escalation Clause versus waiting to make a counteroffer?"
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[quote=Anonymous]In your experience, does using an escalation clause give you an advantage over just waiting for the seller agent to tell you there is a higher offer and deciding if to counter or not? I know without the escalation offer, the seller's agent is not legally obligated to tell you the amount of the higher offer, and you have no way of verifying if it's a bluff or not. This is a scenario where your first offer is already competitive (over asking, no contingencies), so it's not a low ball offer that would get dismissed. This is in a competitive neighborhood, the listing price is around 1.35 millions. And yes, I have asked my agent, but he is saying you could go either way. So wondering what people's real life experiences have been. Thanks for any input! [/quote]
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