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Top 10 reasons to buy a home during winter and holidays in Canada

Top 10 reasons to buy a home during winter and holidays in Canada

Win/win for panic sellers and Canadian real estate investors

 

Very few Canadians like to uproot their family and go through the stresses of home buying and moving during the winter and holidays. Those canadians who do not mind, the holiday season and winter may provide home buying bargains for Canadian professional real estate investors.It is actually a win/win situation.Apart from demand and supply there is another factor which is they must sell.

Here are Top 10 reasons to buy a home during winter and holidays in Canada, why?

 Market Activity is really slow – Lots of family, school, and work activities, combined with the weather in many locations, lead to fewer real estate transactions over the winter & holidays. Since fewer people overall are looking to buy houses, you will have less competition for your preferred house – and this gives you leverage.

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Winter and Holiday home sellers often have to adjust their price downward or make other concessions if they want to sell. Keep this in mind as you search for homes. Bargains may be available, and listed prices may be more open to negotiation.

Clearance Sale Canadian home builders end up with surplus properties as well as those properties with a new buyer befalls. They are happy  to find Canadian real estate investors to buy the property at a whole sale price. This is very common among condominiums in slow markets.

Circumstances beyond control: Canadians sometimes have to sell their home but not by choice, but due to circumstances beyond their control. That is due to sickness, loss of job, transfer, death, divorce or drugs. Since there are not that many active buyers during the holiday and winter months, it is a perfect time for investors to scoop these types of deals without any competition.

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Power Of Sale/Foreclosures in Canada: Due to time and  legal obligations the lender have no patience but to sell these properties as soon as possible to recuperate and safeguard their investments. During holidays and winter times a lot of jobs intend to disappear and a lot of home owners start defaulting their mortgage payments. Remember always buy pre-power of sale or pre-foreclosure Canadian real estate.a2

Estate Sales are the sales with next of kin have inherited these properties by default due to the laws of the country there are a lot of financial obligations which include capital gains, taxes and outstanding bills. These properties need to be sold in urgency because most of the time they are empty and are not in good shape. These are perfect properties for Canadian real estate investors to fix and flip for instant profits.

Motivated panic motivated sellers – Canadians  who are selling their homes over the winter & holidays often have great incentive to sell, such as upcoming job relocation. If a house has already been on the market for some time, that incentive is multiplied.

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You may be able to use this urgency to your advantage (assuming you are not in a similarly urgent need to buy). Negotiate fairly but firmly with sellers and you should be able to extract a lower price and/or other concessions like paying part of the closing costs.

Potential Tax Advantages – If you itemize your taxes, you can deduct any points you paid upon closing, as well as property taxes and mortgage interest. Whether it is to your advantage to buy before or after year’s end depends on factors such as how many other deductions you have this year and expect to have next year.

Better service from Canadian lenders – Within the general trend of interest rates, there is often a cyclical trend of lower interest rates during the winter & holidays – not from the generosity of lenders but due to limited demand forcing greater competition among Canadiu 

Fast Closings – Generally, all parties involved have incentive to complete transactions toward the end of the year. Lenders want to close their books, real estate agents want to receive their commissions before the year closes, sellers want to move on to their new home and settle in for the winter & holidays – and just like the sellers, you want to settle in as well.

Since all parties are motivated and there are fewer transactions taking place during this time, it should be easier to put everything in place for a smooth and rapid closing.These factors do not always apply. For example, if you are trying to buy a home in a winter ski resort area or similar high-demand winter destination, these dynamics may be reversed – except for the tax implications. However, for the majority of Americans, the winter & holidays represent an opportunity to buy a home under mostly favorable economic conditions.

Cold weather and Snow storms:, but your opportunities to buy a home around the winter & holidays may be just as delightful. Enjoy the holiday season as you explore your options. Perfect time for canadian real estate investors to help fellow canadians in need.

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Real Estate auctions in Canada

Real Estate auctions in Canada

 

Real Estate auctions in CanadaCanadian real estate is sold in many different ways. One of the powerful way of marketing is real estate auctions in Canada. It is another secret for Canadian professional real estate investors. 

Real estate auctions in Canada are a great way to get a deep discount on real estate. There are highly motivated Canadian property owners who sell their properties at auctions due to circumstances. Here are the following Canadian real estate property owners or their representative who market their properties by auctions.

  1. Executors
  2. Retiring / Downsizing
  3.  Health Issue
  4. Owners of over-improved properties
  5. Owners of vacant properties
  6. Owners of multiple properties
  7. Owners who have listed with no result
  8. Farm land
  9. Acreage
  10. Bankruptcies

These real estate auctions in Canada included farmland, condominiums, commercial & industrial properties, as well as private homes.

But, Real estate auctions in Canada do have a catch. The Canadian real estate property may be non-financeable by charter banks of Canada. If the property is non-financeable then the entire purchase price must be paid in cash, plus the buyer’s premium, plus closing costs.

Getting title insurance on the property can be challenge. Real estate auctions in Canada properties are sold as is, where is.

But, putting those aside, buying a Canadian real estate property in Canada in auction can help you reap huge rewards.

For example, an Alberta home worth $3.9 million was sold for $1.7 million. That’s less than half of the houses original value. The same thing happened with a house down the street, where a $2.9 million mansion was sold at a 62% discount.

A Victoria mansion was attracting 2,000 people for tours of the home and despite that only one bidder came forward. The price for the mansion was negotiated in private, but it is very likely the bidder got a very good deal.

A mansion at 40 Park Lane Circle, worth $23 million, was more than 21,000 square feet drew a lot of bids before selling for a bargain price of $13.4 million

If you haven’t notice by now, there is a trend between auctions and good deals on properties, and that’s why they’re such a good place to get deep discounted real estate.

List of upcoming Real Estate Auctions in Canada

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You may be wondering “why would anyone sell their home at an auction” but there is a good reason why?

In Real estate auctions in Canada, the Canadian property seller sets all of the sale terms, to the deposit amount and close date, all viewing dates are pre-set, and all offers are firm without any conditions. Canadian real estate auction allows a lot more control to the seller which some people value.

Canadian municipal tax sale properties are also sold at auctions, and often are very promising. A Markham home was worth $650,000 and sold for $350,000, a great deal.

Canadian real estate investors need to learn different stratgies, techniques and know how by attending Canadian real estate investors apprenticeship as well as eye witness LIVE training in real life.

Auctions can be beneficial to Canadian real estate investors and the seller. The buyer gets a great deal on the property while the Canadian property seller gets control and has the property sold.