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Rachel Scarrella had no doubt the new windows and furnace and first-time buyer-friendly price would make the 1970s home she recently put up for sale in Oakdale a hot commodity. She never guessed it would fetch 170 showings and 56 offers. It was a madhouse, said the North Oaks-based real estate agent.
No surprise, she said, that most of the buyers were willing to pay tens of thousands of dollars more than the $225,000 list price. What was unusual: At least half of those nearly 60 bidders were so desperate to be the winning offer that they sweetened their pitch by waiving their right to have the house professionally inspected for defects before closing.