Buying a house can be stressful in today’s market of scarce inventory and competing buyers. The National Association of REALTORS® reports that in February 2021 nearly four offers were made for every house sold. To bring their offer to the top, buyers use various strategies, including leaving off the inspection contingency, cash offers, or no closing costs. Escalation clauses are yet another tool used by prospective buyers. But before using an escalation clause, it is important a buyer understands the risks and ensures certain liabilities are avoided.
© 2022 Coldwell Banker Realty
©2022 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.
