You may not have known it, but we are smack in the middle of the best two-week period of the year to make an offer on a house. That’s right, each year from Dec. 3 thru Dec. 14 bargains in the housing market are to be had thanks to a variety of reasons, according to the blog at The Deeper Pockets.
The online real estate magazine provided several tips to take advantage of year-end home-buying, one of which was to only make cash offers this time of year. First, though, let’s take a look at why this is such a good time to make an offer on a home.
As the story notes, by getting a bid in by December 14th you should have time to take all the steps necessary to get the deal closed by Dec. 31st. Why is this important? Largely because banks typically want to move excess supply prior to the new year. This means they will often accept drastically reduced offers.
One other interesting point The Bigger Pockets makes is that during this time of year, people are often enmeshed in the holiday season and other year-end projects. So,that widens the opportunity for those willing to put in the time.
In addition to only making cash offers, The Bigger Pockets also suggests that you keep the inspection period short and that you go back and make a re-offer on bids from earlier in the year that were denied.
Time is running short to take advantage of this early holiday gift, so let’s get going.