“Does Virginia REALTORS® provide examples of escalation clauses?”
February 15, 2024
*Please note: Any questions regarding Legal Hotline Spotlights should be submitted via the Virginia REALTORS® Legal Hotline. Our attorneys are unable to respond to questions through our comments section.
Q: “My client has asked me to add an escalation clause to our offer. Do you have any examples?”
A: Virginia REALTORS® compiles many clauses, some often used, while others are for special circumstances. We do indeed offer a standard clause for escalations that can be added to the offer. It can be found in our Standard Clause Booklet; it is standard clause 4.1.
There are many standard clauses, and they are updated with regularity. Please take the time to check them out. To download the latest Standard Clause booklet, click here.
If you have any recommendations for additional clauses, please feel free to e-mail use at forms@virginiarealtors.org.
Have a question about this article? Submit it to the Legal Hotline!
The Legal Hotline is a member benefit that has been supporting members for over 25 years. Our team of lawyers answers your important questions about real estate transactions quickly and accurately (usually within three business hours!).
Here are some tips to help make the Legal Hotline work for you!
You might also like…
Buyer Broker Agreement: When Do I Need One?
By Santiago Montalvo - September 6, 2024
Let’s begin with when you do NOT need one. You sign a listing agreement with a now seller and someone calls you and asks you to show that… Read More
“Can my agents sign my listing agreements and buyer-broker agreements?”
By Sean Olk - September 5, 2024
*Please note: Any questions regarding Legal Hotline Spotlights should be submitted via the Virginia REALTORS® Legal Hotline. Our attorneys are unable to respond to questions through our comments section. Q:… Read More
“What if I still have questions about the NAR settlement?”
By Santiago Montalvo - August 29, 2024
*Please note: Any questions regarding Legal Hotline Spotlights should be submitted via the Virginia REALTORS® Legal Hotline. Our attorneys are unable to respond to questions through our comments section. Q:… Read More