Quote:
Originally Posted by Blue Thunder
Escalation clauses in this market are more common that not. I just sold my brothers house on the North Shore of Massachusetts. House was shown over the course of just 3 days with a deadline set for offers. We had numerous offers, ALL for over the asking price. Most of them had escalation clauses in $2k, $5k, and $10k increments! House sold for $90k over asking price. Crazy times indeed.
My wife and I are strongly considering selling our home and renting. I recently retired and she is about 1-2 years out from retirement as well. It is very tempting....
BT
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Interesting idea on selling/renting—let's take a moment to consider the equation. In my head, it would come down to "escalated/inflated" sale proceeds - rental fees vs. sale proceeds in a couple years?
So, if you could make an extra $100k now but rented for 3 years at $1500/mth. (fair average rent?) you'd have an extra $46K. Of course, there'd be real estate tax, maintenance, etc. savings which would also add up.
The presumption, of course, would be that whatever house you'd settle on would have gone down in price in that three years, but it's an interesting proposition for one so close to retirement.
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