This form was created by the Oklahoma Real Estate Contract Form Committee and approved by the Oklahoma Real Estate Commission.
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PURCHASE PRICE ESCALATION ADDENDUM (11-2020)
OKLAHOMA REAL ESTATE COMMISSION
This is a legally binding Contract; if not understood, seek advice from an attorney.
PURCHASE PRICE ESCALATION ADDENDUM TO
RESIDENTIAL SALE OF REAL ESTATE CONTRACT
This Purchase Price Escalation Addendum (“Addendum”), which is attached to and part of the Oklahoma Uniform Contract of Sale of
Real Estate (“Contract”), dated this day of , 20 between
(“Buyer”) and _______________________________ (“Seller”) relates to the following described
real estate ______________________________________________________________ (the “Property”).
NOTICE TO BUYER: By executing and delivering this Addendum with the Contract, Buyer agrees to increase the Purchase Price for
the Property under the Contract in the event the Seller receives one or more additional bona de oers to purchase the Property with terms
acceptable to the Seller (each a “Competing Oer”) which result in net proceeds of sale payable to the Seller equal to or greater than the
net proceeds of sale payable to the Seller under Buyer’s oer set forth in the Contract. This Addendum does not assure the Competing Oer
is comparable in every respect. You should not oer more than you are willing to pay for the Property.
1. PURCHASE PRICE. If Seller receives a Competing Oer for the Property before accepting this Contract, with a Net Price equal to
or greater than the Net Price of this Contract, then the Net Price of this Contract shall be increased to $ more than
the Net Price of the Competing Oer, not to exceed a maximum Purchase Price of $ . The term “Net Price” means
the stated purchase price (or the maximum price if the Competing Oer contains an escalation addendum) less any price adjustments,
such as costs and fees to be paid by Seller and other Seller concessions.
2. ESCALATION FINANCING PROCEDURE. If the Buyer will be nancing a portion of the Purchase Price and this Escalation
Addendum causes an increase in the Purchase Price under this Contract (please check one):
■ The loan amount provided for in this Contract nance addendum shall remain the same, and the Buyer shall pay any increase in
cost at the time of settlement.
■ The Down Payment amount provided for in this Contract addendum shall remain the same, and any increase shall be added to the
loan amount.
■ The loan amount provided for in this Contract shall automatically increase to be % of the new Purchase Price of the
Property.
■ The loan amount shall not exceed $ and the Buyer shall pay any amount of the increase in Purchase Price that
is not included in the loan amount in cash at the time of settlement.
■ Other:
3. REQUIREMENTS OF COMPETING OFFER. A Competing Oer must be an arm’s length, bona de oer on Oklahoma Uniform
Contract or similar forms, containing all material terms necessary for an enforceable contract that:
a. requires the full purchase price to be paid in cash at closing;
b. provides for closing no later than days (60 days if not lled in) from the date of this Contract; and
c. is not contingent on the sale of a buyer’s property that is not under contract (Conditioned on Sale – Not Under Contract Form or
equivalent). A Competing Oer may include other conditions, such as a buyer’s pending sale of property contingency (Conditioned
on Sale – Presently Under Contract Form or equivalent).
4. ACCEPTANCE. If the Seller agrees to accept a Purchase Price within the terms of this Buyer’s Contract and according to this
Addendum (please check one):
■ This Contract shall be accepted and ratied when signed and delivered to Buyer or Buyer’s Broker by the Seller, provided no
changes have been made to the Contract, other than Purchase Price and nancing escalation as agreed to in this Addendum.
■ Seller will submit to Buyer a fully executed Seller’s Counteroer Form, or similar form, with the Purchase Price adjusted according
to the escalation provisions contained in this Addendum.
■ Other:
This form was created by the Oklahoma Real Estate Contract Form Committee and approved by the Oklahoma Real Estate Commission.
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PURCHASE PRICE ESCALATION ADDENDUM (11-2020)
5. BUYER’S DISCLAIMER. Buyer acknowledges and arms this Contract and Addendum have been made voluntarily and at the
Buyer’s discretion. Buyer agrees to hold Sales Associates and their Brokers harmless with respect to the negotiation of the Purchase
Price. In the event Competing Oers are presented on this Property, Buyer acknowledges that a copy of the documents constituting
this Addendum and Contract may be provided to the parties making such Competing Oers.
6. AGREEMENT OF THE PARTIES. Buyer and Seller agree to execute revised parts of the Contract conrming the escalated
Purchase Price and nancing (if applicable) upon request by either party.
Disclaimer: Please note that use of an Escalation Addendum is not recommended by the Oklahoma Real Estate Commission
due to the diculty presented to a Buyer in verifying Competing Oers. Pursuant to 59 Okla. Stat. § 858-353, a broker may be
required to keep Competing Oers received from a party or prospective party condential. Buyer acknowledges and arms that
pursuant to 59 Okla. Stat. § 858-353(A), Buyer may be unable to verify Competing Oers used to escalate the Purchase Price due to
condentiality restrictions. Buyer submits this Escalation Addendum at Buyer’s own risk.
Buyer’s Signature: Seller’s Signature:
Buyer’s Signature: Seller’s Signature:
Date: Date:
