* This article was first published in the December Midland Express
Are you trying to sell your home just as everyone else is putting their Christmas tree up? Don’t fret! There are some known advantages to selling through Christmas and New Year.
There are some challenges to selling your property through the Christmas holidays. Many agents shut shop and have a break, buyers are distracted with the silly season and many of us are just plain tired!
But if you are selling your property over the Christmas holidays, don’t stress! It actually might be a good thing.
With the spring selling season slowing down, there are buyers still on the lookout for their next property. Christmas time is less competitive and house hunters who missed out on a spring sale are still actively looking.
After Christmas, people’s schedules slow down which means more time for them to scout and view properties. The motivation to start the year off with a new home purchase is not something sellers should discount.
Consider also that there is less competition. Selling at the height of spring means you’ll house needs to stand out from the pack. With fewer properties listed during christmas and New Year, buyers have less prospects to choose from.
At the end of the year, people are reflective and inventive. Buying a house is often on people’s mind as one of their new years goals and doing that sooner sets the momentum for the year to come.
In a hot market like Kyneton, listing over Christmas might be a strategic move in securing a sale with just a special few houses on the market.
For more on how to you maximise a Christmas sale, head to jenniferpearce.com.au
It is a such a busy time of year! And Christmas can be stressful as it is let alone if you are buying or selling a home during this period. Then it can be downright overwhelming.
So to help you with the overwhelm, we’ve collected a few pointers to assist with your property sales thisChristmas.
Identify Christmas Shutdown Clauses
When you buy a property, you need to exchange contracts before settlement is to occur.
A contract exchanged on 5 December might settle on 4 January, however keep in mind many offices close for the Christmas shutdown period.
In order to ensure that you are not in breach of your contract, your solicitor or conveyancer may need to include a Christmas Shutdown Clause, which states that your settlement will occur immediately after the Christmas Shutdown Period.
Plan your holiday absence
Many people take a trip out of town over the Christmas period. If you’re buying or selling a house, your contract may require you to complete a transaction while you’re not home.
If you are going away, you must notify your conveyancer or solicitor know. Before you take off, ensure that you have signed all documents so that the exchange or settlement can occur even in your absence. Alternatively, you might want to nominate a power of attorney.
Be realistic about approvals
It is important that you are realistic about time frames for loan approval processes. If you have submitted your request in late November, you may not get approval until the new year given the process time frames. Ensuring you are prepared and realistic will help keep the stress lower.
Whatever you choose to do, knowing that buying or selling your house over the Christmas period might be the best gift you ever receive.