10/20/2023
Real Estate Vocab ๐๐ :
Escalation clause (escalator)-
is a section in a real estate contract that states how much a prospective buyer is willing to raise their offer on a home -should the seller receive a higher competing offer. The clause will state how much more the buyer is willing to pay than the highest offer and their spending limit. Essentially, escalation clauses offer buyers protection if other potential buyers outbid them.
๐ Llama hoy, si tienes preguntas sobre bienes raรญces๐ก
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Karla Jeziorski | Chicago, IL | Realtor & Broker๐ฉ๐ปโ๐ผ๐
๐ฒ: 224-509-0104
๐ฉ: [email protected]