Buying a real estate during the holiday season
It’s a really right time to exchange gifts, general merriment and entertainments during year-end holiday season. But, have you thought about buying a house during November or December? If you are not choosy regarding the sort of home you prefer to buy then you can go ahead and do it.
Due to wintry climatic condition, short days, most of the sellers do not intend to transact during this time. But, still sellers who are under pressure and motivated will be ready for a deal, that makes easy for a buyer to go ahead with the proposal says, Deihl, associate broker in Boston at Gibson Sotheby’s International Realty.
Deihl also added, “No one who is in right mind would prefer to sell their property during the holidays and hence if a seller prefers to sell his or his piece of real estate, is in the urge to sell”. And that’s makes year-end buying house proposal a great decision. Determined home buyers can make use of this opportunity and take the seller’s urgency of selling their property as an advantage.
Important points to consider
- As so many sellers are not interested, the downside will be the availability of the limited supply of homes for sales. Keller Williams Realty Realtor Mr. Ken Pozek says, “if you are unable to trace a home that fits your taste, then you should be able to go for choices that aren’t on the market. One strategy which brokers refer as “old expires” means those homes which are listed for sales for several years ago will get sold out at this time.
- A determined buyer can research for such findings. Another way is for the realtor to send letters to preferred neighborhoods homeowners who are in search of selling their home which meets your expectation.
- The third approach is to have a meet with brokers who sell homes in large number in your neighborhood and check with regarding unlisted homes that are getting ready for sale or under coming soon category to make a deal in prior.
- If you try talking to a right agent at the right time, they will definitely lead you to get into a great deal. As there will be less competition prevails, it eases your negotiation process, and you can purchase your home at a favorable price.
However, with the lesser availability of sales-homes to choose, you must be ready to lower down your expectation. Also, Deihl says, “those properties are generally priced with motive to sell and it becomes an opportunity to give up additional time during this year-end unless during busy market times of the year it is possible to get a better deal of investment opportunity”.
It must be really considered as a pleasant surprise if you can figure out a home that fits your taste. One of the downside during year-end home shopping in cold-weather states is that finding defects hidden by snow becomes impossible which will come to light only during spring. This could be a great concern for buyers, especially in Northeastern states during December to early February, says Deihl.
He added, “Snow cover ups several things and its rest in the hands of the buyer to review the entire landscape as chances of seller hiding pitfalls in the property exists.
Photographs of the property may be taken during earlier in the year. So, through a home inspection, you can mitigate few risks prevails in the home which are especially listed during snowy season to hide its faults.
It is not only buyers and sellers will be off from their work during year-end, but also those realtors, mortgage brokers will also be off as even they have their family and friends to spend time with. Still, many of them work during this year-end as they well know that buyers find time to devote for purchasing during vacation, says Pozek.
Still, it is recommended to check with your agent regarding their plans, and whether they will able to answer the calls and emails in case of emergency as per your expectation. Most of the Mortgage Company or bank will be available at your service during business hours, unlike individual mortgage brokers who may take off at times.
If you complete your holiday tasks ahead of your vacation time, you could definitely find it easier to go ahead with your year-end home purchase. You don’t need to shy getting into the sellers’ home, as they will also be willing to meet buyers” says Pozek. Also, added” If a home is with “for-sale” sign, it clearly states that you can intrude sellers without any hesitation.