Contracts
An escalation clause in an Oklahoma purchase contract allows the buyer to:
AAutomatically increase their offer above any competing offer up to a maximum amount✓ Correct
BIncrease the price if the property appraises higher than the offer
CEscalate the closing timeline
DRaise the earnest money deposit automatically
Explanation
An escalation clause is used in competitive markets (like hot Oklahoma City or Tulsa neighborhoods) and automatically increases the buyer's offer by a set increment above any competing bona fide offer, up to a maximum cap amount.
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