Florida homeowners who are thinking about selling their homes in the near future may be best served by doing so during the fall months. Although there may be fewer buyers in autumn compared to other seasons, those who are in the market are generally serious about making an offer. The Federal Reserve is planning on raising rates between fall 2018 and spring 2019, which may make it less expensive for buyers to obtain a loan now.
This is especially true for buyers who have an existing home loan at 3 percent. By waiting until the spring, they could see interest rates climb to up to 5 percent, which is a significant jump for anyone in the market for a home. For sellers, putting a home on the market in the fall can be a good idea because there is less competition. That means the potential exists for multiple buyers to put in offers on available homes.
Those who are looking to sell their homes may have many different factors to consider when timing the sale. First, they need to consider whether the sale needs to be completed in a short period of time. If so, it is generally better to list it as soon as possible regardless of what the calendar says. Furthermore, if a seller is looking to create a bidding war, listing a home when there is less available inventory could help accomplish that goal.
Buyers and sellers might benefit from working with an attorney prior to a real estate closing. This can ensure that both parties understand the terms of the sale and have addressed any concerns that the other may have. Legal counsel could also help with legal issues that may arise during or after the close.