This is it.
The time is now.
Don’t miss it.
December 3rd to December 14th, 2012 is your time to make lower than usual offers. If you can get your bids in by December 14th, you still have time to inspect, check title and close by December 31st. At this time of year, the banks are anxious to get their extra inventory off their books. If you can make cash offers, many banks will come down in price if you can close ASAP.
Another good thing is that most end users and investors are distracted and really busy with end of the year job projects, holiday plans and gifts to buy. So if you can spare the time to up your number of bids in the next two weeks, do it.
When making end of the year offers, there a number of strategies you can use to ensure successful closings.
How to Purchase Real Estate With No (or Low) Money!
One of the biggest struggles that many new investors have is in coming up with the money to purchase their first real estate properties. Well, BiggerPockets can help with that too. The Book on Investing in Real Estate with No (and Low) Money Down can give you the tools you need to get started in real estate, even if you don’t have tons of cash lying around.
Six Tips for Making Offers At the End of the Year
- Come up with a game plan to carve out time to look at the numbers, visit properties and make offers in the midst of all the other December pulls on your time.
- Make cash offers only. Get partners if you need to, but cash offers is what makes a difference to banks in December.
- Close by December 31, 2012.
- Keep you inspection period short if you can. I make 5 day inspection periods, but you need to be able to sleep at night so do what’s right for you.
- Reoffer on bids that were rejected earlier in the year.
- Plan ahead. Put a reminder on your phone or calendar for next November to start considering your December 2013 bids.
By the way, I kept this blog short because, guess what?
I’m busy out making bids.
Leave me a comment below and let me know your goals and plans for the next two weeks!
Photo: John Morgan