Home Buying in McKinney>Question Details

Brooklyn Cal…, Real Estate Pro in 75035

Does TX have a price escalation addendum for buyers? It works just like eBay bidding, & seller's agent has to provide proof you were

Asked by Brooklyn Calloway, 75035 Thu Oct 18, 2012

outbid. price escalation addendum; lying and saying you have multiple offers so that you outbid yourself

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Hopefully you have a Realtor who can go to bat for you and check with the listing agent. I think you will find that the vast majority of Realtors will not say they have another offer when they don't. We are bound by a code of ethics and that would be totally unethical.
0 votes Thank Flag Link Fri Oct 26, 2012
Unfortunately, Texas does not have an escalation clause and no way to "prove" that there are multiple offers. If you have your doubts, call their broker and ask them to verify. If they are the broker, then you have 2 options:

1) Put in your final and best offer or
2) Withdraw and see how quickly they come running back.

McKinney has been a pretty popular area though, and if the home is priced right and in good condition, I would not be surprised by a multiple offer situation. It has been happening more and more over the past few months.

Best of luck to you,

Brian Rayl
B&B Realty Group
Keller Williams Elite
214-601-4192
0 votes Thank Flag Link Sat Oct 20, 2012
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