What’s an Escalation Clause Addendum? [free downloadable]
The escalation clause states that your offer will automatically escalate to a higher price when there’s another offer that’s higher than yours. You specify what incremental increase you agree to, and what your top price is. In this way, your offer automatically moves to the top of the list in a multiple offer situation. The advantage of it is that you try to mitigate your risk of overpaying.