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Real Estate
Reply to "Escalation clause...yes/no?"
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[quote=Anonymous][quote=Anonymous]The truth is that most houses in hot neighborhoods likely only get one offer, and nothing about what's been described about this house suggests that it will be different. In fact, it seems like this house may be overpriced. I personally would not offer more than ask, and I definitely would not escalate. As with any house, I would just be at peace with the fact that I might lose. Other houses will always come on the market, even in hot neighborhoods.[/quote] I don't know where you live, but houses in a lot of close-in DMV neighborhoods get multiple offers. I was talking to a realtor who listed a house in our neighborhood in Arlington. He told me it went for $200K over listing and they received 8 or 9 offers. As long as you tie the escalation clause to the highest offer and include a maximum price you're willing to pay, I don't see why you wouldn't include one.[/quote]
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