Escalation clauses can make the difference when bidding wars arise
By Dean CottrillEven though much of the District is in what we would consider a fairly normal market, with moderate price increases and a climate that favors neither buyers nor sellers, there are some pockets that remain hot sellers’ markets. Whether it’s the most sought-after neighborhood or a hard-to-find price-point, the end result is often the same – a bidding war breaks out.
While bidding wars are thrilling for sellers, they can be extremely frustrating and even heartbreaking for buyers. Some buyers bid on multiple properties without ever winning and eventually give up. That
