What is an escalation clause? Here is a cliff notes version

May 13, 2021

Escalation clauses are all the rage in real estate these days. Buyer agents are including them in more and more offers as a way to give their clients an opportunity to compete for a property. So what are escalation clauses? Simply put, an escalation clause is the buyer telling the seller that they will pay a certain price for their home but if the seller gets a higher offer, the…