Article: Escalation Clauses ? A Home Buyer's Secret Weapon
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Escalation Clauses ? A Home Buyer's Secret Weapon
Today we discuss escalation clauses because much of the country is experiencing an extreme ?sellers? market.? By that, I mean there are more buyers than there are sellers, and that results in sellers? getting more than one offer to buy their property. The seller can be picky about the terms under which he is willing to sell. A potential buyer is apt to make one or more offers which are rejected before making a successful offer. If you are a buyer, how do you increase the chances that your offer will be the acceptable one?
The obvious things a buyer can do is to have a strong ?pre-approval? lender letter, and make an offer that is full price and is as ?clean? (has as few contingencies) as possible. Is there anything a buyer can do beyond that? You bet your bippy!
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