What is an Escalation Clause and How Does it Work?

In a hot housing market, like we have in much of the United States, there are often house listings that get multiple offers. Multiple-offer situations can frustrate many buyers because they do not want to compete with other buyers or get in a bidding war. Some real estate agents will encourage their buyers to use an escalation clause to give them a better chance of getting their offer accepted. An escalation clause is a provision added to the contract that states a buyer’s offer will be a certain amount higher than any other offers up to a certain amount. For

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