A "hot" market is characterized as a strong seller's market with high demand and very low inventory.
Although it may appear somewhat counter intuitive, sellers may deliberately set their price below market value and delay receiving offers in order to create a frenzy of demand resulting in multiple offers and overbidding for the property.
In situations like these it is important for buyers to remain calm, rational and not become swept up in the frenzy and over pay for a property. I can help you determine fair market value and help you submit a sensible bid for the property you want to buy.
Successful bids in hot market conditions generally have no conditions and are often higher than the asking price. There are high risks associated with this approach and I will help you assess the risks and make good decisions in the heat of the moment.
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