In the current hot housing market, media reports are filled with examples of homes selling quickly for the asking price or more. Because of that, sellers these days often expect their home to sell in just a few weeks or even days. When that doesn’t happen, worry and doubt may start to set in. I had a past experience where I sold a home in just a few days. Conversely, I bought one that had been on the market for several months.

Though stressful, bidding wars are a seller’s dream. After all, when multiple buyers try to outbid each other for a property, it likely means more cash in the seller’s jeans. It’s a dream that has become reality for some homeowners as competition for available homes, particularly in certain neighbourhoods in the GTA and in other parts of the province where supply is limited, has resulted in some properties selling for $100,000 or more over the asking price.