#1: Get the timing right. Most real estate professionals say the spring/summer homebuying season is followed by a lull in real estate activity in September, when homeowners settle in after vacations, go back to work and get the kids ready for a new school year. If a bargain is what you’re after, start shopping for a home in August and September. There may not be as many homes on the market as there are in the spring, but you’ll have less competition from other buyers, and sellers will be more motivated and willing to negotiate.But be sure to keep your local market in mind when house hunting in the fall. Ski-resort towns and areas with temperate climates, such as Florida and California, don’t always have a “down time” when it comes to real estate sales. You may be competing with just as many buyers as you would during the spring, so be prepared to make solid offers and negotiate with sellers.
#2: Seek out motivated sellers. If you’re hunting for a bargain, it’s important to distinguish the sellers who are eager to unload their properties from the ones who are just testing the market. Some sellers who list their homes in the fall are on a deadline to sell before the holidays. Working with these sellers is a great way to find a good buy, as they may be willing to come down in price to quickly close a deal. Other sellers who aren’t in a rush most likely won’t budge on price, so work with a real estate agent to find the flexible sellers instead.
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