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In the latest episode of the Straight Up Chicago Investor Podcast, hosts Mark Ainley and Tom Shallcross bring on Sarita Scherpereel, team lead of the Straight up Serita Sales Brokerage team, to delve into the intricacies of leveraging escalation clauses in real estate transactions.
Amidst a landscape of low inventory and heightened competition, Sarita emphasizes the significance of understanding escalation clauses for buyers eyeing two to four units and commercial properties. These clauses, she explains, signify a buyer's willingness to pay above-competing offers, a strategy crucial in today's market dynamics.
Key takeaways from the discussion include the importance of discerning market interest through showings and comps, consulting with a broker, and not hesitating to reveal bottom lines in bidding wars. Serita underlines the nuanced evaluation of market conditions as paramount when considering the use of escalation clauses.
Further insights into the use of escalation clauses are provided, distinguishing them from the highest and best offers. Tom and Mark stress that sellers ultimately decide whether to accept such clauses and caution buyers against fixating solely on price discrepancies, urging consideration of long-term property value.
The episode also features a fascinating Chicago fact about the artist behind the Centennial Monument in Logan Square, known for iconic designs including the Lincoln Memorial and the Gateway Arch. Engaging with listeners, Tom and Mark commend their participation and thank them for tuning in.
As the real estate landscape continues to evolve, understanding the strategic implementation of escalation clauses emerges as a crucial skill for buyers navigating competitive markets.
Watch Straight Up Chicago Investor Podcast Episode 273 in Full Here
Show Notes:
Question: What is an escalation clause and how can investors utilize it?
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest: Sarita Scherpereel, Straight Up Chicago Investor Podcast
Link: https://www.saritasells.com/
Chicago Investor Resources Shared
What You Must Know About Renting Your Property In Schaumburg
Survival Guide For Self Managers - 15 Tips Chicago Landlords Must Know(Especially House Hackers)
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