My agent has told me that ALL agents are discouraged from using escalation clauses. His reasoning is that having multiple competing escalation clauses gets really tricky leaf ally speaking to make sure the regulations are met.
The sellers agent had apparently told my agent that they have 6 offers, all $20k+ over asking. I have not been working with this agent long and don’t know how much to trust him. He’s with Redfin.
My line of thinking is that no reasonable seller would leave money on the table out of principle. And violating their “no escalation clause” stipulation would be fine. My agent disagrees. Says that there a 99% chance my offer will be thrown out without consideration.
So am I being scammed here? Is the sellers agent lying about the other offers? Is my agent working with the sellers agent to screw me?
The home is super popular and unique. The 6 offers claim is believable. I’m planning on going in $31k over asking. Based on comps in the area, I think it’s fair.