Escalation Clauses

[Holden Latimer]

Was reading this article today and read about something I had never heard of before. Escalation Clauses. Basically the author describes using this strategy when the buyer's agent asks for best and final offers. Rather than blindly raising your offer, the author suggest putting an escalation clause within the offer which basically stipulates that you will beat the highest competing offer by a couple hundred dollars up to a specified price cap. This protects yourself against needlessly raising your offer in situations such as this.

I was wondering if fellow BP faithful have had experience structuring your offers in this way? Thanks!

http://www.heraldextra.com/business/local/utah-cou...