Q: What Is an Escalation Addendum?

In a fast-paced seller’s market like the one we’re experiencing now, we often see multiple-offer scenarios where the listing agent or the seller will call for every buyer’s highest and best offers right away. That means you as a buyer have to decide in your head where you’re going to top out pricewise, which goes against our natural inclination to start in our lower range and wait until we’re forced upward. If you top out, will you regret it later? Today I’m explaining your secret weapon in this scenario: the escalation addendum. To learn more about how it works and why it’s so useful for buyers wanting to cover all of their bases, watch my latest video.

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