Home Buyers Don’t Miss the Opportunity For Your $8000

If you are a First Time Home Buyer time is running out. If you desire to take advantage of the First Time Home Buyer tax credit your property must close by December 1, 2009. Buyers should have a signed purchase contract with the seller signed by early October to have plenty of time to close.

For my buyers that need to finance, I always suggest about 6 weeks for closing, especially with inspections. In most “normal” cases that is enough time. I have seen other odd cases where it can take longer and the reasons can vary.

Just recently I was going to close on a home. It was delayed because the buyer for my seller’s home had to close on her house first.  Well, this buyer for the buyer in our transaction lost their financing and had to start all over. When all was said and done, the house closed about two months after it was suppose to and everyone involved was happy.

So consider this with only 6-8 weeks (hoping there are no snags), you need to find that house in the next 2 to 2 1/2 months or sooner. If you are eager to take advantage, hurry. If you are not sure where you stand with your credit, just take that step and talk to you loan officer.  Happy Hunting.

Details on First Time Home Buyer Tax Credit

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