Strategies for Winning: Escalation Clauses
Strategies for Winning: Escalation Clauses In the upside down world of competitive real estate, both buyers and their agents inevitably need to consider numerous strategies when submitting an offer for a home. And since we are in an extended sellers market with low inventory, it’s important to consider using every tool in your toolbox when needed. If you’re thinking about buying a home in Washington, our state offers the ability for buyers to escalate their offer over another buyers offer. Not every state allows it, so I’ll go into the finer details of its used and why it’s often a game changer for many buyers. Countless times throughout my real estate career, I have sat with buyers after looking at a home they’re considering an offer for. There are strategies beyond just offering a high number. Sometimes there are multiple buyers submitting offers for the same home, and you want to know what it takes to be the winning offer, and escalations play a significant r...