Activity slows in the fall, which can be to a buyer's advantage.

Fall can be a busy time. Children are back in school, there are sporting events to attend and the holiday season is coming. That means that a lot of buyers are waiting until after the first of the year to resume their home hunt after the busyness is over. However, there are still homeowners eager to sell their properties.

All that means that fall can be a very buyer-friendly time to go shopping for a home, especially those with higher price points. The fewer offers being presented, the more likely sellers will be open to negotiation to get a deal done.

Another reason to get your purchase done before the end of the year is to be able to deduct your home purchase expenses from your taxes. But, since closings usually need 30 to 45 business days to close if financing the deal, time is of the essence to find the right property and get it under contract, especially since days are lost due to banks and title companies being closed for holidays in November and December.

If you know you are having difficulty making your mortgage payments, it's time to strongly consider putting your home on the market so there's a better chance of getting it sold and you out from under the mortgage before the foreclosure letter shows up. If you wait until you get the notice, you are less likely to have time to get a deal done before the foreclosure is scheduled. (Most lenders are not willing to postpone an auction even if there's an offer on the table if not able to get it closed and paid off weeks ahead of the foreclosure date, so time's of the essence, especially since closing can take as much as 45 days to happen.)

If we can't get it sold for what you owe on it, we'll need to approach your lender about approving a short sale. That means the lender is willing to accept less than what you owe. However, they must agree to the price. You will still end up with a negative hit on your credit rating, but it will come off your credit report much faster than a foreclosure or bankruptcy. I have assisted several sellers through the short-sale process, so let me help you.

Call one of our agents ASAP to schedule a home visit for a free consultation. You will find contact details for all Realty Advocates LLC agents at https://www.realtyadvocatesal.com/about/.

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