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Reply to "Escalation conspiracy?"
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[quote=Anonymous]There's no conspiracy just because houses sell over list. As others said, anyone can walk away even once their bid is accepted. We also had the experience of visiting a house and immediately knowing the level of interest was too rich for my blood. Maybe the people bidding up those properties were chumps but they were willing and able. Our realtor said over and over, "decide what the house is worth to you going in, and then you wont be disappointed if it goes higher, or have cold feet if the bid is accepted." It seems like escalation clauses interfere with this thinking. Sure you don't want to pay top of the escalation clause unless there's verified interest from another buyer, this validates the sale price, but the top number shouldn't be in the offer if it isn't what the house is worth. Given that, if the seller counters at top of the escalation, it seems worth consideration, or at least not surprising that another buyer takes it.[/quote]
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