Although the holiday season is not considered a prime-time home buying period, it can actually be a great time to purchase a home. There’s usually less competition in the market, and with sellers also keen to wrap things up before the holiday season, chances are you’ll be able to strike a deal if you can move quickly.
So, if you’re planning to buy a home during the holiday season, here are some tips that will help make the process run smoother.
Find Motivated Sellers
Whatever the time of year, there is always a reason for people to move, but you are likely to find more motivated sellers during the holiday season. Most sellers wish to wrap up selling their homes before the holiday celebrations commence, so you’re more likely to find sellers who will consider offers. Few sellers want to continue paying taxes for a house they don’t wish to keep or couldn’t sell in the fall.
Prepare for a Faster Closing
The holiday season comes at the tail end of the year, so there’s usually an urgency to finalize the home-buying deal as quickly as possible. For that reason, it’s prudent to be prepared for a faster than usual closing. Ensure you have pre-approval for any mortgage you will need, and ready access to funds for closing. Be prepared to respond quickly to any requests from attorneys, lenders and brokers. If you demonstrate to your sellers that you are able to move quickly your offer may be considered preferably.
Use a Well-Connected Realtor
Real estate agents talk to each other about potential listings coming soon in the market. If you want to get early access to as many great properties as possible, you need a well-connected realtor. A well-connected agent knows about houses that will be coming available in the near future, as well as off-market listings that are not publicly advertised. If you’re looking to buy a home in the Greater Boston area, Barrett Sotheby’s International Realty is the right place to find a well-connected realtor.
There are always a few hurdles to buying a home during the holiday season, but don’t let that deter you from purchasing your dream home. Contact Barrett Sotheby’s International Realty with any questions or schedule a viewing.