Hi All,
I'm still searching for one more IP in the leadup to Christmas, and wary of the Christmas period but also don't want it to stop me.
This is the first time I've been buying at this time of year.
Some things I'm thinking about now:
1. Placing offers on vacant non-investor houses, as they are keen to have a sale "before Christmas". So far vendors have been tight, and not coming down much in price. I'm hoping this just means that either it's not close enough to Christmas, or I have just found the wrong vendors.. need more motivated sellers.
2. Vacancies and leasing over Christmas - Vendors like 30 day settlements, but I don't want settlement right before Christmas where I can't find a tenant. I'm adding to offers that we need access for 2 open houses prior to settlement - but I'm still not confident of getting tenants. If the price is good, I can live with some small vacancy.
3. As it gets closer to Christmas, settlements can't occur in Christmas period due to shut downs at Solicitors and banks, so I'm not too worried about any contract signed after say 25th November.
4. Finance - I'm assuming finance approvals will take longer so I may need a 3 week finance clause if it gets close to end of December.
Is there anything else at this time of year I need to think about?
Are there less buyers at the open houses now due to everyone Christmas shopping and attending events?
When do real estate agents stop showing houses? Do agents in Brisbane have a shutdown period?
Do I need to try really hard to get one signed now, i.e. come January is the market going to flood with buyers again that had been waiting during Christmas? I know the owner occupied crowd doesn't want to buy now, as no one wants to move in December, but will they all come out in force in January?
Anyone had experience that they can find better deals leading up to Christmas than at other times? More motivated sellers?
I'm still searching for one more IP in the leadup to Christmas, and wary of the Christmas period but also don't want it to stop me.
This is the first time I've been buying at this time of year.
Some things I'm thinking about now:
1. Placing offers on vacant non-investor houses, as they are keen to have a sale "before Christmas". So far vendors have been tight, and not coming down much in price. I'm hoping this just means that either it's not close enough to Christmas, or I have just found the wrong vendors.. need more motivated sellers.
2. Vacancies and leasing over Christmas - Vendors like 30 day settlements, but I don't want settlement right before Christmas where I can't find a tenant. I'm adding to offers that we need access for 2 open houses prior to settlement - but I'm still not confident of getting tenants. If the price is good, I can live with some small vacancy.
3. As it gets closer to Christmas, settlements can't occur in Christmas period due to shut downs at Solicitors and banks, so I'm not too worried about any contract signed after say 25th November.
4. Finance - I'm assuming finance approvals will take longer so I may need a 3 week finance clause if it gets close to end of December.
Is there anything else at this time of year I need to think about?
Are there less buyers at the open houses now due to everyone Christmas shopping and attending events?
When do real estate agents stop showing houses? Do agents in Brisbane have a shutdown period?
Do I need to try really hard to get one signed now, i.e. come January is the market going to flood with buyers again that had been waiting during Christmas? I know the owner occupied crowd doesn't want to buy now, as no one wants to move in December, but will they all come out in force in January?
Anyone had experience that they can find better deals leading up to Christmas than at other times? More motivated sellers?