July 2021 Bar Bulletin
By Kary Krismer
One tool in a real estate broker’s or attorney’s toolbox is the use of an “escalation addendum,” such as Statewide Form 35E. In simple terms, an escalation addendum allows a buyer to offer x dollars over other certain other offers, up to a maximum price. For example, a buyer could offer $900,000 as a base price, while simultaneously offering an escalated price of $25,000 over another other offer, up to a maximum price of $1,000,000.
In 2021 the use of Form 35E has become rather frequent due to extreme market conditions. Accordingly, the March and April revisions to Form 35E have been very...