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Looking for a home during the fall

On Behalf of | Oct 20, 2017 | Residential Real Estate

Prospective homebuyers in Delaware may be interested to know that they are still able to find the home that they want even if they do not find one from May to September, which is believed to be the best time of year to purchase a home. The season of fall also offers some advantages for people looking for a new home.

Because the housing market tends to slow down near the end of summer and the interest in homes is not as high, sellers may be more willing to negotiate. This is a good opportunity for homebuyers to get a better sale price and to push for more incentives, like using a seller credit to have the carpeting replaced.

Homebuyers also have a little more time to search for a home because there is less competition from other buyers during the fall. Several buyers pursuing the same home usually means that it is highly likely that the seller is able to choose from better offers. It also means that there may be an urgency to purchase a home that one will regret in the future.

People who purchase a home during the fall also do not have a long time to wait to reap the tax benefits of being a homeowner. When they file their tax returns, they may get tax breaks for private mortgage insurance premiums, real estate property taxes and mortgage insurance premiums and more.

People who want to buy residential real estate may benefit from the services of an attorney who practices real estate law. The attorney may work to ensure that a client’s rights and interests are protected by drafting and reviewing purchase agreements, assisting with short sales, negotiating contract terms, overseeing closings or engaging in litigation to resolve issues regarding lack of disclosure.