Contracts
In Maryland, an escalation clause in a purchase offer automatically:
AReduces the purchase price if the home does not appraise
BIncreases the buyer's offer above competing offers up to a stated maximum✓ Correct
CExtends the settlement date by 30 days
DRequires the seller to make repairs
Explanation
An escalation clause automatically increases the buyer's offer by a set increment above any competing offer, up to a maximum price the buyer specifies.
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