Seller Received a Competing Offer

[Adam Sechrist]

I put my first offer in on Friday afternoon. Finally heard back from my realtor last night that the sellers received a competing offer over the weekend. According to my numbers, I still have about $5,000 wiggle room to make the deal worthwhile, but I can't shake the feeling that I may be negotiating against myself. Do I up my offer? Or stand pat?

[Adam Sechrist]

I love Bigger Pockets! I never would've thought of an escalation clause, @Account Closed seconded the motion (with further insight/detail), I'll have it at the ready. So thank you, too!