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]
It really depends what you can afford.  If you can afford to escalate and it's a home you love, why not?

Did home search decade ago for a cross country move.  Had given ourselves 6 days to find a home---had to so when we moved in 3 months we had a house in a school district we could stay for our kids to finish MS/HS---one kid was already in HS so it was key.

After 2 days of viewing homes (and we had already narrowed it down with on line searching/research for areas and schools) we found the place we absolutely loved and it was by far the best place.  So we paid full price and would have paid another 10-20% if needed. 
We needed to have a home to live in, in the school district (both HS and MS had to be what we wanted long term) we wanted.  We have animals so finding a place to rent with them in that specific area would be hard.

So we likely "overpaid" at the time.  But in reality, not so much. Sold it 8 years later for 200% more.  So not an issue long term.

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