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How an Escalation Clause Can Help You Win the Home You Want

 
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Manage episode 214854887 series 1374361
Content provided by Michael Kaim. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Michael Kaim or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
An escalation clause might be just what you need to get the home you want in our market. Here’s why.
Looking to buy a Home in Northeast Ohio? Search all Northeast Ohio homes for sale.
Selling Your Home in Northeast Ohio? Use our home evaluation tool.

If you haven’t had much luck getting offers accepted in our market, I recommend using a tactic the agents on our team are implementing with our buyer clients: an escalation clause.
How does it work? Let’s say you enter into a multiple offer situation and the listing agent tells you to make your highest and best offer, but you’re hesitant because you have no way of knowing if that offer will be high enough.

The escalation clause is a unique proposition, but it might be just what you need to get the home you want.
An escalation clause guarantees that you’ll offer more than the next highest bid up to a certain amount. If the house is listed for $170,099 and you’re willing to pay as much as $185,000 for it, your escalation clause will state that you’re willing to pay $1,000 more than the next highest verifiable offer. If another buyer makes an offer of $183,000 with no closing costs, your offer would automatically reset to $184,000.
The escalation clause is a unique proposition, but it might be just what you need to get the home you want.
If you have any more questions about how an escalation clause works or you have any other real estate needs, don’t hesitate to reach out to me. I’d be happy to help you.
  continue reading

20 episodes

Artwork
iconShare
 
Manage episode 214854887 series 1374361
Content provided by Michael Kaim. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Michael Kaim or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
An escalation clause might be just what you need to get the home you want in our market. Here’s why.
Looking to buy a Home in Northeast Ohio? Search all Northeast Ohio homes for sale.
Selling Your Home in Northeast Ohio? Use our home evaluation tool.

If you haven’t had much luck getting offers accepted in our market, I recommend using a tactic the agents on our team are implementing with our buyer clients: an escalation clause.
How does it work? Let’s say you enter into a multiple offer situation and the listing agent tells you to make your highest and best offer, but you’re hesitant because you have no way of knowing if that offer will be high enough.

The escalation clause is a unique proposition, but it might be just what you need to get the home you want.
An escalation clause guarantees that you’ll offer more than the next highest bid up to a certain amount. If the house is listed for $170,099 and you’re willing to pay as much as $185,000 for it, your escalation clause will state that you’re willing to pay $1,000 more than the next highest verifiable offer. If another buyer makes an offer of $183,000 with no closing costs, your offer would automatically reset to $184,000.
The escalation clause is a unique proposition, but it might be just what you need to get the home you want.
If you have any more questions about how an escalation clause works or you have any other real estate needs, don’t hesitate to reach out to me. I’d be happy to help you.
  continue reading

20 episodes

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