Quote:
Originally Posted by BayouCountry
I'm selling a rental in So. Cal for a nice profit after holding it for six years. Perfect timing with interest rates low and house prices high. Looks like the tenants will buy it before it goes on the market. This severs my last tie to Kali.
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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.
