IQ: Consumer Education at Educators

IQ Home Buying Guide

Part I. Planning—Doing Your Homework before Looking for a Home

Is there a “best time” to buy?

There’s no simple answer to this question. The “best time” to buy a home is usually when fewer buyers are looking. There are two terms that you should be familiar with: buyer’s market and seller’s market.

A buyer’s market exists when there are more properties for sale than there are buyers. In a buyer’s market, sellers may be more flexible and willing to work with a buyer. A buyer has more time to check out a property and make decisions.

A seller’s market exists when there are more buyers than properties for sale. In a seller’s market you must be ready to act quickly. During a seller’s market, sellers typically may not be as flexible or as willing to negotiate a lower price.

 

 

 

 

 

 

 

IQ Home Buying Guide is prepared by Remar Sutton and Associates and licensed to Educators Credit Union. Copyright 2007. All rights reserved.


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