Phil Nordella, Santa Clarita Valley real estate professional and host of weekly KHTS show ‘Real Estate: It’s That Simple’ discussed real estate and local issues with co-host Taylor Williams-Moniz of Donahoe, Young & Williams Law.

On this week’s episode of ‘Real Estate: It’s That Simple’ Nordella and Williams discussed topics such as Santa Clarita City Council voting against transferring serious juvenile offenders to facilities in Saugus, as well as the topic of escalation clauses and their effects on real estate decisions.

Nordella and Williams described the idea of transferring violent offenders to Santa Clarita, and the related concerns they and others have.

Both hosts describe that they believe there should be a better plan in place so as to not hurt current prisoners in the facility as a result of the new offenders being added.

Nordella and Williams then go into real estate, describing a hypothetical circumstance in which a home buyer has just been shown a property they desire and has lost the previous three homes he or she has written offers on.

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In this circumstance, when looking to increase chances of purchasing a home in these situations, there is an option known as an ‘escalation clause’. What an escalation clause means for a home buyer is that one stipulates in an offer and adds a clause letting the seller know the highest possible amount you could purchase.

The escalation clause can include a stipulation that the buyer can purchase a home and pay $1,000 more than whatever the highest offer of a home is, according to Nordella. The clause can also feature an added piece of information in which a limit can be put on how much the price can escalate.

Nordella tells listeners to follow several rules before using an escalation clause, including making the clause non-binding, not writing one unless a home is perfect, not including an escalation clause in the first offer, making sure there are already multiple offers and always putting a not-to-exceed amount on the clause.

To reach Phil Nordella call (661) 312-3561 or visit philnordella.com.

To reach Taylor F Williams-Moniz call (661) 259-9000 or visit dywlaw.com.

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