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Real Estate
Reply to "Escalation Clause versus waiting to make a counteroffer?"
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[quote=Anonymous]It depends on the neighborhood. We wanted to buy in a very particular area in upper NW - there would have been no chance to counter offer. When we bought, we did see bid that triggered the escalation. There was a selling agent on a house we didn't buy who tried to get people to increase their bids in spite of the escalation clauses (calling around and telling people where they were "ranked" but not providing numbers) - we withdrew our bid from that house because it was so sketchy. I think there are 2 selling agents in the area who do this so I would just avoid houses they're selling. If you have a local realtor they should know who they are.[/quote]
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