purchase escape clause
I put an offer on the Condo at full price and someone else also gave a full price offer. So I counter-offered at $171K with the escape clause of $500 over the 2nd guys max new offer. The agent came back and said I got the condo at $170.5K . I asked my agent to see the other buyers offer which they did send to me but the change in price was NOT initialed by the other buyer which I think happened because possibly it was done over the phone. So I am not sure if the 2nd buyers offer was really $170K or it was just put in there to make my offer appear at high price. Also the 2nd buyers offer sheet was signed on the sellers line instead of the buyers line (a mistake?). I have asked my agent to go back to the listing agent and have the other buyer initial the change in price . It might or might not happen.
Question: Has anyone gone thru the purchase with escape clause and not see the initials on the counter offers. I don t know if I am getting taken advantage of. ??!!! Thanks.
I initialed my new price but waiting on the other buyers initial.