I'm planning on submitting an offer on a house, just under half a mil...

I'm planning on submitting an offer on a house, just under half a mil, with an escalation agreement up to a certain amount. I do not have a buyers agent and I don't know how the fuck to word this but I'll figure it out.

Anything I should know?

Attached: 1638373134111.png (1440x810, 342.83K)

You should know to cope seethe and dilate

You'll rope within the next 3-6 months

What the fuck is an escalation agreement you fucking idiot?

You're in luck because I'm actually a planning & property lawyer but what I say doesn't constitute legal advice.

Presumably the vendor has an agent? If they do, submit your offer to the agent and follow up for a response.. If they don't respond within 24 hrs ring the agent and withdraw your offer.

The agent will be playing mind games with you because it's their job to secure a higher price for their client (the vendor) so just realise that whatever you offer is likely to be knocked back whilst the agent plays games and/or fucks with other people making offers too.

All you need to do is figure out how much you're prepared to spend and mind fuck them into accepting something less than your limit.

It's It's simple.. The fuck is an escalation agreement, stupidest shit I've ever heard. What I think you're talking about is a situation where an agent (buyers agent) acts on your behalf and bids for you and that's not happening without an agent.

Get title insurance or at least a title search done. Lock in as low a rate as possible, and make sure it's a fixed rate.

I did this, same exact situation — buyers re-listed the house right under (-$500) the escalation cap. They got a shitty offer with awful terms and took my fully maxed out, escalated offer.

I’m still mad as fuck a month later.

I have been told by perhaps disreputable irl faggots that you can put in an offer with a clause that says you're willing to go higher. That's all

Sorry, sellers. The sellers re-listed the place the second I put my offer on the table.

That's the stupidest shit I've ever heard and you should punch those people in the face.

Let me put it very clearly so you can appreciate how stupid that is.

Imagine we're negotiating the sale of say my car and I'm looking to buy it. If you make me an offer for $1000 and say "just letting you know that I'm prepared to go higher" then I'll just say go higher and you've just fucked yourself out of securing a better price for yourself..

I can't tell if this is bait or not. Treat the negotiation for the purchase of the property as if you would for anything else you have or could purchase where you can negotiate the price I.e. a car..

Apologies I fucked that car example.. should have said imagine I'm selling my car to you and you make me an offer with a condition that you could go higher.

It's like playing poker but showing everyone your hand.

Just make your offer and be prepared to be ignored because you have no agent and don't know what you're doing and no seller wants to have their home sit on the market while their deal falls apart because the buyer was a goofball flake.

Attached: Screenshot_20220217-231650~2.png (1080x931, 252.97K)

The truth. Get a realtor. Any house worth buying is going to have attractive low risk offers day 1.

Clearly none of you retards have ever bought a house if you don't even know how an escalation offer works. It kicks in to outbid the other buyers, because in any hot housing market, any property worth buying is going to have multiple buyers putting in offers. OP, get a realtor. Seriously. And don't ask a bunch of 20-year-old autistic virgins for home buying advice ffs.

>Yeah my advice is to uh just like spend as much as possible and then give the seller a thank-you blowjob

Welcome to the sellers market.

Ah there's our issue. I'm in Australia where we have semi reasonable laws regarding offer/acceptance as opposed to the US where you get fleeced just standing still.

I mean if you just sit and think for a second how this escalation agreement works it's nothing but a way for the vendor's agent to fuck everyone over by jacking up the price by virtue of triggering escalation agreements.. I understand that such an agreement might be conveyed as a way to tidy up the process but all it really does is jack up the price.

Rather than get taken along for a ride it's much better to hold your cards close to your chest. Make an offer and if it's not accepted or they don't respond within 24hrs withdraw it. Don't get strung along into paying more when you don't have to.

Just make a reasonable offer and go from there.

and thats when any one of the 24 other potential buyers who have an escalation agreement outbid you and you never get a home but buying right now is stupid anyways lol. you wait till no ones talking about home prices then you buy.

My gf just bought a house. They were asking $365K. She offered $315K. The real estate agent rejected the offer and sent this sperg out email trying to argue the house was worth what they were asking, and then on top of that tried to force the closing period up to like 8 days. My gf was panicking saying maybe she should counter with $350K, just a typical femmoid meltdown god bless her.

I told her to pull the entire offer immediately and say we’re obviously way too far apart but let us know if things change on your end. I work as a tort lawyer and do this hardball shit every day. She pulled the offer and two days later those faggots come crawling back accepting $315K and we got to impose all this shit on them like fixing a bunch of shit up for free. Fucking amateurs thought they were gonna bully some young first time homeowner get fucked.

Attached: A75A3F46-4914-4C56-B6C6-3E45587FA1C4.jpg (1200x900, 149.51K)

>rent for forty years until it's a great buyer's market
great plan

Offers typically expire after 24hr.