Acceleration Clauses Are Back!
That should tell you just how competitive the Atlanta real estate market is right now. I’m noticing these clauses showing up on some offers right now. If you’re unfamiliar, an acceleration clause basically says that the buyer is willing to pay $1000 over any other offer up to a certain amount. The buyer will require seller to share any higher offers in order to raise their offer price.
With multiple offer situations being a common occurrence these days, many buyers are opting for this kind of aggressive strategy to win the bid. This is primarily fueled by the still very low interest rates. Some buyers are seeing rates as low as 2.75% on 30 year mortgages. With rates that low, it’s easy to see why buyers would be so extremely motivated to find a home right now.
Thanks for watching this week’s Atlanta market update. As of now I’m still waiting on those official stats. If you have any questions, give me a call or shoot me an email. Have a great week!