Contracts
In Vermont, a real estate 'escalation clause' allows a buyer to:
AIncrease their commission offer
BAutomatically raise their offer above a competing offer up to a specified maximum✓ Correct
CExtend the inspection period indefinitely
DRequire the seller to pay all closing costs
Explanation
An escalation clause allows a buyer to automatically increase their purchase price by a specified increment above any competing offer, up to a stated maximum price. It is used in competitive markets to improve the buyer's competitiveness.
Related Vermont Contracts Questions
- Vermont's 'seller's use and occupancy agreement' (rent-back) after closing allows:
- Vermont's 'fixtures vs. personal property' dispute in a real estate contract is most effectively avoided by:
- A Vermont residential purchase contract includes an inspection contingency. The buyer's inspector discovers that the roof needs replacement. The buyer may:
- Vermont's 'purchase price allocation' between land and building in a commercial sale affects:
- Vermont's 'tender of performance' in a real estate contract means:
- Vermont's 'pre-purchase disclosure' for new condominium units sold from a public offering statement requires:
- For a real estate contract to satisfy Vermont's Statute of Frauds, it must be:
- Under Vermont contract law, mutual assent means:
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →