Question

What is the meaning of the term 'acceleration claws' in the context of a real estate contract?

Answer 1

Acceleration clauses deal with the money part of things, not the sales agreement. Are you thinking of an escalation clause? That's the one that allows you to outbid another contract that might come in.

Answer 2

An accelaration clause typically says that if you don't pay as agreed, the payee can call the note due in full.