There are a lot of homes for sale in the summer months. Real Estate sales start to pick up in mid to late February. A reason for that is people tend to want to move around school schedules, especially if they have kids.
So why would you want to consider selling your home in the slower months?
Three Reasons To Sell In The Slow Season
Lack of Competition – Since a lot of people like selling their homes during the summer months, there are fewer houses for sale through the late fall and winter months. With fewer houses, buyers have less choice. That can be an advantage to you, the seller. Think of it this way. During the summer months, there might be several houses for sale in your neighborhood at any given time. In the fall and winter months, yours might be the only one for sale. That gives you, the seller, an advantage since there is less competition.
Negotiations – with fewer houses, it kinda makes for a bit of a seller’s market. The advantage of that is the negotiating advantage goes to the seller. Whether it is requested repairs or who pays for certain things during the transaction. That can mean more money in your pocket. Keep in mind, there is no bad time to buy or sell a house. It’s all about perspective.
Quicker Close – With fewer houses for sale, the buyer needs to be prepared. That likely means they will have all their finances in order, pre-approvals done, and be ready to sign when the right house becomes available. As a seller, you want that house to be yours.
Things To Do As A Seller
Here are a couple of things you should do as a seller – well – because it’s the right thing to do:
Fix those minor details. No one likes a house where it seems they are going to have to do all kinds of repairs after the close. Change light bulbs, replace cracked light switches, and fix leaking faucets. The way contracts are written, once an offer is accepted, any repairs are supposed to be done by a licensed professional. It would be a huge waste of money to have to hire someone to fix a leaking faucet if you can do it yourself.
Clean the house and do some touch-up painting. It’s cheap and a nice thing to do. How would you like to move into a house that’s dirty?
Selling in the slow season might just get you exactly what you want from your home sale.
Something to think about.
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Patrick O’Connor, Ebby Halliday, Realtors, Plano, TX
My first priority is to help you understand the real estate process.
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