Contracts
A Utah buyer includes an escalation clause in their offer, which means:
AThe buyer escalates the offer price if negotiations fail
BThe buyer automatically increases their offer by a set amount above competing offers up to a specified maximum✓ Correct
CThe seller's price automatically escalates each month the property is unsold
DThe commission escalates with each counteroffer
Explanation
An escalation clause allows the buyer to automatically beat any competing offer by a specified increment (e.g., '$2,000 above any competing offer') up to a maximum price ceiling.
Related Utah Contracts Questions
- The Utah REPC's Inclusions and Exclusions section defines which items:
- In Utah, a real estate purchase contract is considered fully executed when:
- Under the Utah REPC, the Financing Condition protects the buyer if:
- The doctrine of equitable conversion holds that:
- An assignee of a Utah real estate purchase contract takes the contract:
- The Utah REPC's lead-based paint addendum is required for homes built:
- Under Utah contract law, an offer becomes binding when:
- A Utah real estate purchase contract becomes binding when:
Practice More Utah Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Utah Quiz →