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Old 02-25-2021, 9:51pm   #17
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Originally Posted by dvarapala View Post

The kid just bought his first house the other day. The market is so crazy that he not only made a full price offer, but at the encouragement of his agent the offer also included an escalation clause: basically if the sellers received another offer he would automatically beat it by $1000 up to a max of $10000 over asking. Turns out there was a competing offer, and that offer included a similar escalation clause, only theirs was $500 over and capped at $9000 over asking. So he beat them out by $1000.

It's almost like buying a house on eBay.
Gotta know how to play the game.
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