The summertime rush for buyers happens every year. Families have been waiting to move until the school year is over. The holidays have come and gone, and are coming again. Vacations are to be had. Summertime is a popular time to purchase a home, but is it the best time?
Be Prepared to Offer Higher
Clients are probably tiring of hearing this, which is unfortunate - but they must prepare to offer higher than the asking price. Why? Because the summertime rush for buyers means that homes are going to go even quicker than they've been going during this hot market.
Clients need to know how much they can afford ahead of time and then ideally only look at houses somewhat under budget so they can survive in a bidding war.
Offer a Shorter Escrow
Not only do clients need to be ready to close ASAP always (pre-qualification and funds available) but especially during the summer months. People are generally just busier during the summer and don't want to be held up by anything. Real estate transactions can seem tedious and if a buyer can make the deal sweeter - they should.
One way to do this is to offer to close in 30 days versus 60 or 90. Another thing to do is an agent advises, is to waive contingencies. While this isn't ideal; in a seller's market during the summer - it may be necessary.
Go Into The Search with an Open Mind
Go into the search with an open mind and remember to enjoy the beautiful weather. Clients looking to buy during the summertime rush should have an open mind and be ready to still enjoy themselves as much as possible. No one wants their summer ruined by a search for a home during hot weather and an even hotter market.
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