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\u201cOne of the main drawbacks to an escalation is that you give away your maximum number,\u201d explains Musau. \u201cIt's essentially showing all your cards, and can drive the price of the home outside of your top number if there's another offer with a higher escalation.\u201d
Buyer Representation Agreement - OREA Form 300 The Buyer Representation Agreement is between you (the home buyer) and your Realtor's Brokerage. It gives the Brokerage permission to act on your behalf in the purchase of a property and must be signed prior to a Realtor submitting an offer on your behalf.
The South Carolina Residential Property Condition Disclosure Act, the \u201cAct,\u201d is a statute that requires that every seller of a residence must complete a statement disclosing any problems in the residence and provide a copy of the statement to a purchaser of the property.
These conditions will include the closing date, purchase price, financing terms, and expiration date by which both parties must agree to the conditions. Ownership of the property can only be transferred legally if both the seller and buyer agree to the prescribed terms and sign the contract.
If you want to counter their offer, have your listing agent cross off the original offer price on the Purchase to Sell agreement and send it back. This document can get rather messy depending on how many times it gets passed back and forth. Prevent this by asking your agent to reach out to theirs with your best offer.
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According to realtor.com, escalation clauses \u201cshould only be used when the buyer is fairly confident that there will be multiple offers, or when the buyer expects to pay an increased price.\u201d
Typically, when a seller rejects your offer they come back with a counteroffer to potentially negotiate a deal what works better for them. If your offer is rejected without counter, it might mean that your offer was too low to be considered by the seller.
Be aware of the offer price, including the highest amount it will reach. Decide how to proceed when there are multiple offers; sellers can choose to accept an offer, reject all offers, or make a counteroffer. Sellers can also choose to set a specific price for the property and dismiss the escalation clause.
These OREA Standard Forms and Clauses are for use by OREA members and certain licensees only. Any other use or reproduction is prohibited except with the prior written consent of OREA.
Rough Draft Escalation Clause/Escalator Clause. LAWYER DRAFTED ESCALATOR/ESCALATION CLAUSES ARE NOT ILLEGAL IN SOUTH CAROLINA. REAL ESTATE LICENSEES WITHOUT A LAW LICENSE SHOULD NEVER CREATE PHRASES OR SENTENCES OR SENTENCE FRAGMENTS IN LEGAL CONTRACTS WITHOUT LAWYER OVERSIGHT.

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