What about an escalator offer? In case you don’t know what those are, here’s the skinny: A buyer, hoping to beat out all other offers, will include an escalator clause in the offer that reads something like, “Buyer to beat all competing offers by $1,000 up to a price of $700,000. Seller to provide copies of competing offer to buyer on acceptance.” By providing the cap, the idea is to get the property for the lowest possible price with the objective of putting the buyer in the driver’s seat for negotiating.
If you’re ever faced with an escalator offer, the cap is higher than any competing offers, and your seller is tempted, here’s how you can counter it: “Sales price to be $700,000. Seller refuses participation in the escalator offer.” The buyer has shown you his top price; you might as well reach out and grab it.
Buying a house isn’t just about the property itself, it’s about finding a place to call home. Happy house hunting! #HomeBuyingTips #RealEstateAdvice
Today is a good day to get started, let’s embark on this exciting journey together. Reach out to Ashe County Realty today, and let our experienced team guide you through the real estate market. Whether it’s a cozy cabin in the mountains or a charming home in town, we will help you find the perfect place to call your own.
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