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Real Estate News And Advice
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February 12, 2012
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CONSUMER NEWS
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INTERACTIVE
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Response To: |
Escalator Clause
(annbutler - 08/10/2000 05:45 AM)
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Main Topic: |
Escalator Clauses: When Is It Time To Hop On Board?
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Sunset & Other Clauses
Posted By: OurBroker - 08/10/2000 06:16 AM
Ann --
Thanks for your note. You raise a good point.
Escalator terms can be set up in a number of ways. A sunset clause is an excellent idea, and there are others that might work as well. For instance:
*Acceptance of the escalator clause means the offer has been ratified.
*The escalator clause is the last addendum to the agreement -- no additional terms can be added by the seller.
*The brokers in the transaction shall be held harmless regarding the final sale price and its negotiation.
*If there are several offers with escalation clauses, only ___ escalations are authorized.
Etc.
I'm not a lawyer, and suggest that proper advice and language should be obtained from an attorney.
All the best.
Peter G. Miller OurBroker(r)
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