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JoAnn Pomatto-Gomez's Blog

By JoAnn Pomatto-Gomez | Agent in Goleta, CA

Seller's Market, Paying Over List Price and Escalation Clauses

This topic was on my mind at the beginning of this year 2013. We're we going to still see buyer's paying over list price with multiple offers on homes in and around the Santa Barbara/Goleta area. Well, the answer is yes! Just this week a home listed in the low 500k range 2bdrm/1 bath cottage built in 1940 went sale pending with 17 offers all over asking price. The winning bid was 100k+ over asking. Then after speaking with a few of my colleagues in regards to the market, the "escalation clause" has also come into play on offers that they've received recently. Here is an article that addresses both subjects that you might find helpful.....

http://homebuying.about.com/od/buyingahome/f/Is-It-Ok-To-Pay-Over-List-Price-For-A-Home.htm?r=et

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