Trying to find motivated sellers of waterfront real estate can be difficult. The perfect time to look for a motivated seller of a waterfront home is during the wintertime. Also, you will be able to get appraisals and home inspections at a lower cost.
The winter time is tough for the real estate market due to all the distractions like holiday shopping, parties, and decorations. The cold weather also deters potential shoppers from getting out and looking at properties. If you get out there in the winter, you\’ll likely be making offers with little competition.
When a seller has a waterfront home that did not sell during the summer market, they may become concerned that the waterfront home won\’t sell. If the seller has not pulled their listing, there is a good chance they have become very motivated to sell.
Real estate agents need to keep their momentum going and can\’t afford to take too much time off. When the agents aren\’t as busy, you get better service. Plus, they\’re more likely to take low offers seriously. Agents love investors ready to buy waterfront real estate during the winter.
So what about financing? Well, lenders and mortgage brokers are affected the same way real estate agents are. As the winter months roll-in, they tend to be more flexible with qualifications and will work harder to help you purchase your waterfront home.
Many buyers will make offers contingent on the appraisal and the home inspection. During the summer you may have to wait up to a week or longer to get the appraiser and home inspector out to the home. During the summer, it is not uncommon to be able to get your appraiser and home inspector out to the property within a day or two.
So why not get out there and start looking for some waterfront real estate bargains. Make a lot of offers. Don\’t wait for the summer to come back in just to find that your offers are lost in the crowd. Be proactive and find those motivated sellers.
Hubert Miles is the founder of Waterfront Houses USA, an online listing service that provides Waterfront Home and Waterfront Real Estate available in the US and Canada.
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