Time is slipping away home buyers… but it isn’t too late to take advantage of tax credit.I have had many buyers stressed because they have not found that perfect home, and they fear they will lose out on the Tax Credit. (Remember… that is an $8,000 tax credit for first time home buyers, and a $6,500 tax credit for ‘move-up’ home buyers.)
Fear not home buyers. You still have time, but not a lot. Don’t stress you will lose out on this opportunity, but start looking and do so now.
The tax credits for both types of buyers is worded that you need to “be in contract” by April 30th, and close by June 30th to qualify for the credit. This is 45 days away! Only 6 more weekends to get out and look. Be proactive and keep looking.
Worst case scenario may be you get an accepted offer at the last minute. Let’s say on April 30th. You will be ok to close this loan on time, as most transactions are not taking a full 60 days to close.
Beware though of the short sales and bank owned homes. The timelines on these transactions may be troublesome.
If you have any questions regarding this, please feel free to shoot me an email. I am always available to answer any questions you may have.
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