Sentences with phrase «escalation clause which»

Your agent might suggest you include an escalation clause which effectively says if there is another offer better than yours, you're willing to pay $ 5,000 more than the top offer - without even knowing what the top offer is.

In future events of a multiple offer situation, you can put in an escalation clause which asks for proof of an offer so you know you're not being taken.

Leaving aside the issue of privacy, let's explore the bigger problem with escalation clauses which is that they make the risks of the blind auction, which already features perverse incentives that may tempt an unethical agent to cheat, even stronger - to phantom offers, RECO has just added the heightened risk of phantom prices.

Not exact matches

The Ontario Real Estate Association (OREA), which represents 70,000 real estate agents and brokers in Ontario, has become involved in a public spat with the real estate industry regulator over the use of a controversial provision in purchase agreements known as an escalation clause.

The RECO newsletter notes that the use of an escalation clause could violate a provision in the industry Code of Ethics, which prohibits agents from disclosing the price and contents of competing offers.

Those economic data should bode well for commercial real estate, which is often viewed as a hedge against inflation due to the fact that leases include escalation clauses that often mimic changes in the Consumer Price Index.

@Christy Holt You can try mentioning to your Realtor to use an «escalation clause» in your offer which strengthens your offer against another offer with same price.

In addition, escalation clauses can lead to increased paperwork and can complicate the final decision about which offer the seller accepts.