L/O in a "sellers Market"? - Posted by Bob-MD

Posted by Curt-MN on May 24, 1999 at 11:36:55:

We have a strong seller’s market in MN right now also , with instant sales and bid-up prices, so I too would like to know the best techniques for a strong seller’s market. I did, however, see one house in rundown condition sell for 130K, have a crew of five work on it for two months, and within a week resell for 235K (three buyers offering the full 250K asking price withdrew their offers when they found out what the house had sold for two months previous!)

L/O in a “sellers Market”? - Posted by Bob-MD

Posted by Bob-MD on May 24, 1999 at 08:58:15:

In a strong seller’s market like the one we are experiencing in MD, is it still possible to find sellers interested in doing L/O? It seems that the houses in good areas are selling almost as fast as they go on the market. In many cases the price is being bid up above the asking price which is causing appraisers to have problems finding and justifying comps. Is there a different strategy that is used in this type of market?