Thursday, April 06, 2006

Best Time To Buy or Sell Your Home in Ottawa

Typically the best time of the year to sell is the summer, when the number of buyers is usually the greatest. In Ottawa so many people go away for the summer. Ottawa strong market months are Jan - June. There is often a flurry of activity in the end of August and September. There are more houses for buyers to choose in the spring, but there are more buyers in the spring. Sellers must list in the spring housing market.

From a buyer's standpoint, the best price can often be negotiated in the winter, when the least number of other buyers are in the market. You should also be aware, however, that property inventory is usually at its lowest in the winter and you may not be able to get a good look at the property's exterior, in particular, the landscaping.

One consideration is to sell in the summer, rent during the fall and buy in the winter.

Aside from the time of the year, buyers and sellers have to educate themselves for one of the most important investments of their lives. Sellers should seek the most informed and unbiased opinions of the market value of their property through qualified appraisals. In addition an appraisal could be provided to the prospective buyer to assist in formulating an agreement and for financing purposes.

Buyers should always include on offers to purchase the phrase "subject to the appraised value being equal to or greater then the agreed purchase price". You should insist on obtaining the appraisal before closing and, if the lender doesn't need an appraisal, have one completed for your own security and peace of mind.


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