When you know a home you really want is likely to have multiple offers, you can add an escalation clause to your offer. This means you will automatically “beat” any other offer by a certain amount, up to a certain maximum price. For example, you make an offer at $240,000 with an escalation clause that you will beat any other offer by $1,000 up to a max of $250,000. If no offer beats your $240,000, then you only pay $240,000.

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