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Updated over 4 years ago, 04/09/2020

User Stats

22
Posts
4
Votes
Justin Reid
  • IL
4
Votes |
22
Posts

Right time to use an escalation clause?

Justin Reid
  • IL
Posted

I put in an offer on a bank owned (US Bank)property today. The house has been listed for 200 days, and just over 2 weeks at its current price point. Miraculously my realtor calls me & says the listing agent told her they have multiple offers & I should start considering my “best & final”

I find it HIGHLY suspicious that after all this time there are multiple offers now, in a time when a large chunk of the country is out of work and almost nobody is making large purchases. I think the listing agent is full of ****.

I’m considering submitting my best & final with an escalation clause dependent on verifiable offers.

What do you guys think? Would this be the appropriate time to use such a clause or just stick with my original offer. I more or less want to call their bluff.