Every year, without fail, I get a call from December David. He rings me up on December 1st, in a hurry to close a deal before the year ends. Not only does David want to close in 30 days, but he also wants a great deal, and he’s hoping for a motivated seller ready to make concessions. My response? I wish you had called me in October.

The problem? By the time December rolls around, the chances of finding the perfect deal at the perfect price are next to zero. David’s chasing a dream that’s hard to realize when you’re running out of time.

The December Dilemma

When you wait until December, here’s what happens:

- Time Crunch: With only a few weeks left, there’s no room for error. Any delay—whether it’s title work, inspections, or financing—can kill the deal. Even the smoothest transactions need time, and by December, you're at the mercy of every hiccup.

- Slim Pickings: By December, the best properties are already under contract. Motivated sellers have signed deals with buyers who planned ahead. What’s left? Either overpriced listings or properties with major issues, making closing by year-end even tougher.

- Lost Tax Benefits: If closing by December 31st is crucial for tax purposes, waiting too long can push you into next year. And that means missing out on potential deductions or credits that could have made a big difference to your bottom line.

The 90-Day Rule

If you want to close by year-end, the reality is you need to be under contract by early November at the latest. That’s because closing a real estate deal takes time. There are inspections, financing, due diligence, and negotiations. If you’re still hunting for a deal in December, like our friend December David, the odds are stacked against you.

Why You Should Act Now

Here’s why October is the sweet spot:

- Motivated Sellers Are Still Out There: Right now, you still have options. There are motivated sellers who are ready to negotiate and serious about closing before year-end.

- More Inventory: With 90 days left, you have a wider pool of properties to choose from. You can afford to be selective without feeling the pressure of a deadline.

- Lenders Are Ready: Lenders have capacity now. As the year-end approaches, they’ll be swamped, and getting financing through the finish line will take longer. Lock in a deal now while everything’s still running smoothly.

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Don’t Be December David

December David waits too long and scrambles at the end of the year. He’s chasing deals that aren’t there and missing out on opportunities that could have been locked up earlier. Don’t be December David.

I get it—you’ve got your goals for 2024, and you’ve been looking all year for that perfect deal. Want to know a secret? No deal is 100% perfect. I know you’ve been reading my emails, browsing Crexi and LoopNet, quietly analyzing deals from brokers. Let this be your wake-up call—reach out to me today, and let’s find the deal that moves you forward.

Upcoming

I’m pumped to head to the Big Apple next week with Elliot for the NYC Real Estate Expo. It’s a great chance to learn from the best of the best. Anyone else attending? Would love to meet up while I’m there!

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