August 5, 2021
Real Estate

How’s the real estate market? Be careful with an escalation clause – The Ukiah Daily Journal

Have you ever wanted to own the property next to yours? Maybe it would allow you to protect a beautiful view. Maybe it would allow you to bring your aging parent closer so you could provide more support. Maybe you just love that property and would rather have it as your primary residence instead of the one you currently inhabit. Whatever the reason, if you’ve ever thought to yourself, “I sure would like to own that property,” here are a few things you should know.

You can use an escalation clause when you make an offer on a property to let the sellers know you are willing to go to unusual lengths to acquire their property. When I first heard the term “escalation clause,” I thought it was referring to the common practice among landlords increasing the cost of rent over time, either according to cost-of-living scales or according to some other predetermined schedule. But no,…

Read full article here: