Newsflash: 24 hour offer expiration in a hot market?

I am looking at a FSBO house this afternoon in an area that is really hot. Houses in the area (even on the same street) are not lasting for 2 or 3 days before they go pending.The owner originally listed at $140K and came down to $135K. I talked to my realtor and tried to get my realtor to get an appointment to see the house. The seller will not pay an agent. He advised that I could contact the seller directly and get an appointment. He gave me some basic guidelines:Keep my comments about the house close to my hip.If I make an offer, it needs to be pretty much what they are asking because most houses in the area are going for what the seller is asking, and they are going quick. (Essentially he said to not get any bright ideas and offer them a low price because I will not get the house.)That I will need to move swiftly due to the hot market (which I already know because I’ve seen houses go pending pretty quickly)That I am in a good position since I am prequalified with my VA loanSo now I am typing up my offer just in case. Do the market conditions sound right for me to make an offer that expires in 24 hours? (I read this post where u/The-Young-Buffet explains that he uses 24 hour offers to prevent other people from seeing the house.It seems like it makes sense in this case. The realtor suggested that this seller is stacking offers and will pick the best offer. Will I be shooting myself in the foot with a 24 hour offer?What would you do?Other question…. The VA loan allows for me to finance 100% of financing. There is section in the buy/sell agreement that addresses deposits. I am tempted to leave that blank. I plan to finance 100% of the house but am uncertain if an earnest deposit would help my offer. I probably have $1K or $1500 I can put down for the sake of saying that there is an earnest deposit. However I am uncertain if that will really make a difference.Seller is paying no closing and doesn’t have any agent fees. There is a mention of a home warranty on the listing, but I don’t know any details about that. I will be sure to get details about that to see if that is something that the seller is offering or if I will need to pick up those expenses and what real value that has for me.I’d appreciate any feedback you have.In case you are curious, I’ve owned my own home since 2003, but I got it in succession and bought my sister’s share out. There was no offer, counteroffer, inspection, etc. Learning the hard way about how that isn’t necessarily the way to do things, so am now looking to purchase with more information than I had back in 2003.

Read more at https://www.reddit.com/r/RealEstate/comments/6dhptg/24_hour_offer_expiration_in_a_hot_market/?utm_source=ifttt

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