Why December Is a Good Time to Buy Property
AS the year draws to a close and many make their way to the coastal regions there is far less competition for buyers in the inland areas, making this an ideal time to go looking for property.
This is according to Cameron Jansen, Broker/Manager of RE/MAX Central, whose office services the Sandton and the surrounding areas. “There are areas that are experiencing stock shortages along with high demand, making the competition for property fierce in these regions.”
With fewer buyers in the inland areas during December, those who are in the market for a new home will have the luxury of being able to view show houses without competing with too many other buyers, says Jansen. “Those with access to finance should take the opportunity and extra time they have during this month to go to show houses, search the internet and look through the paper for possible homes. Prospective buyers should try and find all the media resources they can to find their perfect property.”
He notes that another advantage of competing with fewer prospective buyers in the quieter holiday period is that the purchaser has more time to spend with the real estate agent to ask them the really important questions. “The real estate agent will have more face-to-face time than usual to spend with each of the buyers and in that time, they will be able to answer any questions that the buyer may have and fully understand what exactly the buyer is looking for in their perfect property.”
Jansen points out that while it is an ideal time to look for a property, many of the parties involved in the property transaction will be winding down and there could be delays in the process.
“It is important to remember that there are more people involved in the transaction than just the buyer and seller, such as the conveyancing attorney and the bank. With these services closed over the holiday period the process will likely be delayed until business operations resume in the New Year,” says Jansen. “However, in terms of the contract that is signed between the buyer and seller, as long as there is time given for the delays, it will still be valid and binding. When services resume in the January the contract will be ready to go and the buyer would have secured their dream home.” property24.com
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