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Updated over 4 years ago on . Most recent reply

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27
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Ethan Antwain Reynolds
10
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27
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Legitimacy if offers when using an escalation clause?

Ethan Antwain Reynolds
Posted

My wife and I are about to buy a property cash and we used an escalation clause in our contract. And conveniently we were maxed out. Is there a way to check the legitimacy of an offer?

  • Ethan Antwain Reynolds
  • Most Popular Reply

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    539
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    Lydia S.
    • Real Estate Agent
    • Albuquerque, NM
    192
    Votes |
    539
    Posts
    Lydia S.
    • Real Estate Agent
    • Albuquerque, NM
    Replied

    @Ethan Antwain Reynolds

    If you won the bid and had an escalation clause, the clause should have been written up in such a way that it includes  receiving proof of the competing offer(s) that drove your offer up.  Next time, ensure your Realtor includes that language in the escalation clause.

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