VA LOAN CAPTAIN BLOG & Learning Center

Making a Cold Offer

By: Grant Moon 11/19/14 05:39 pm

I just read today where each of our 50 states had temperatures below freezing yesterday. I can get that Alaska is a gimme but Hawaii? Apparently yes. And for those up in the Northeast and upper Midwest, you’re probably tired of winter already. And it’s not even officially winter yet. When it gets cold and dangerous outside, people would rather stay home from work and keep the kids at home from school that’s probably already been cancelled. If you live in Buffalo, NY, you’re bracing for more than 70 inches of snow the next few days. Ah, but wasn’t summer not that long ago?

Okay, so what happens when weather hits? Let’s narrow that down a bit. What happens to home sellers when weather hits? Well, if they have an open house scheduled and there’s 12 inches of snow on the ground, it might very well be cancelled. But what if the sellers really need to sell due to some pressing reason? While the open house might still survive the winter storm, the seller’s motivation is becoming stronger.

When it’s cold outside and there are fewer buyers there are fewer offers. And if a seller is desperate enough to sell when it’s a blizzard outside, it might be time to make a very low offer. Whether it’s for a primary residence or getting a great bargain for a future rental property, mortgage rates are still very favorable and immune to the outdoors. And you may be the only offer this weekend. If you’ve been toying with the idea of buying, take advantage of the weather. It indeed does have an impact.

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