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Real Estate
Reply to "Escalation clause...yes/no?"
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[quote=Anonymous]I'm the OP of this and want to report back on our experience with escalation clause. It was our first time using it to buy a home and would recommend it if 1. you're in an extremely competitive market, and 2. both buyer and seller side realtors are well regarded in the market and wouldn't risk their reputation just to make extra $1k of commission after tax. We won the bidding war with our escalation clause and didn't go up close to the max price. The law allows us to review other offers after we won. There were 4 other offers and we beat the 2nd best by $5k. So I absolutely recommend it. [/quote]
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