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Important dates to keep when buying your first home this year! Don't lose out on the buyers tax credit if you are purchasing a home in Macomb County MI this year.

August 1st: Start your pre-approval process with your mortgage lender and
begin to gather the documents that you will need (pay stubs, past 2 years tax returns,
last 90 days of bank statements, cancelled checks showing rental payment history if
applicable)

September 1st: Have your buyers agent picked out. Yes, it is always wise to have
a buyers agent looking out for your best interest. ( In Michigan the sellers have their
own agent. Protect yourself.)

October 15th: Have your new home picked out and your purchase offer accepted
by the sellers.

November 30th: The most important date! To qualify for the 1st time home buyers
tax credit you must complete the purchase of your home on or before November 30th.
Don't count on the government to issue an extension. (Remember, we all lost the down
payment assistance programs on a specific date. They were not given an extension!)

If you stick to these dates you should have no problems achieving your goal and recieving
the 1st Time Home Buyers tax credit. (Remember, it is up to $8000 in government money
that we may not see again.)

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please click on this link.

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Posted by Kris Wales - Macomb County MI real estate blog & homes for sale search site on 06/09/2009 06:01 AM

Comments (19)

First Time Home Buyers $8000 Tax Credit in the Home Buying Channel

8000 tax credit for first time home buyers in macomb county mi, advice for 1st time home buyers in macomb county mi

Originally posted at: Macomb County MI real estate - 1st time home buyers info & advice: Important dates to keep when buying your first home this year! Don't lose out on the buyers tax credit if you are purchasing a home in Macomb County MI this year.

19 Comments on Important dates to keep when buying your first home this year! Don't lose out on the buyers tax credit if you are purchasing a home in Macomb County MI this year.

JUN

Kris,

Great list to make sure a first time home buyer gets their tax credit. You are right they are likely not to see this again!

Dorie: I wish I could send this list out to every potential first time buyer in Macomb County. I'll have to try and spread the word this way :-) Thanks Dorie.

Kris,

I don't want to be anywhere near a transaction that misses out on the opportunity to get the $8000 tax credit because of some last minute glitch causing a settlement to be delayed.

Everybody who wants to use the credit better get off the fence in plenty of time.

Rich

Rich: Neither do I...we can both imagine how we will take the blame if something goes wrong, no matter what that "something" is...it isn't going to be pretty.

Thank you for the reminder about these dates. . I will use them in our office meeting this morning.

Kris - Great tool to keep all of us on track. With the delay in appraisals and title work I would move those dates up by one month. Something tells me that there will be multiple offers and escalation clause on every house starting in August. The ability to secure a transaction by Sept/Oct will be nearly impossible , the shear volume will delay the closing past the deadline.

Fernando: I have it ready for my office meeting this morning as well. Thanks Fernando.

Laura: I've saved a copy and will send it to all first time home buyers that inquire soon about purchasing. They really need to see that just like Christmas the date gets here fast! Thanks Laura.

Kris, I know this may sound crazy BUT! The tax credit has become "My Rant"!

I am so frustrated with folks not knowing, or thinking they have all the time in the world that I go to malls, shopping centers, food stores, where ever there are humans and ask each one..."Do you own your own home? Do you want to own a home? Do you know about the $8000 tax credit that first-time buyers are receiving as a tax credit!? Do you know of anyone who has been thinking of buying but afraid they may not qualify?"

I get a lot of laughs, but I also get a lot of "Thank You!" and a new client!

Good time line, Kris.

We sure don't want the buyers to miss out on the help from the $8000.00 tax credit.

November is coming quicker than I would like.

Heck where is summer. Still waiting on those hot days.

Are you doing OK?

Eileen: You crack me up AND motivate me! I love what you are doing and am kicking myself for not doing the same thing. Thanks so much!

Missy: Doing fine, thanks :-) Tell your buyers agents to kick start all their "on the fence" clients if they haven't already. Time is flying by.

It would not be a happy person who qualifies and closes December 1st! If I have someone wanting the credit, I will encourage a close early!

Kris, we have an agent in our office who has the "3 foot rule" - If you are within 3 feet of him, he talks real estate! Alot of us have taken on that mantra! :) No rule says you have to wait until *they* come within that 3 feet! ;-)

I brought up this very thing at my networking group breakfast this morning. I told everyone I want my buyers to have an accepted PA no later than Oct 1 to leave 60 days for unforseen, or more like common these days, problems to ensure a closing before Dec 1.

And that means buyers have less than 4 months to look so the sense of urgency needs to be ratcheded up NOW!

Kris, It was great to list the dates....I am wondering is people that are not decided are going to miss out on this and that would be such a shame. It's the perfect time to buy for first time home buyers.

I'm sure that buyers will be scrambling at the end of November to get the credit I hope it doesn't drive prices up too fast.

JUN

Kris, it would be a shame to have a First Time Homebuyer miss out on the $8,000 Tax Credit because they did not Close with in the necessary time period. It still does not make sense to me why they did not set the date as December 31st in stead of the 1st.

JUN

Gary, Thats what I want my buyer clients to avoid. Thanks Gary.

Eilean, love that 3 foot rule!   I am not that outgoing, in fact I can be pretty darned shy. However, if given half a chance I will chat with you about the real estate market :-)

Brian,   It's hard to believe that it's coming up so quickly on us. Glad you brought it up at your meeting. Hope everyone heeds your warnings!

Carole, I have this saved so that I can email it to potential buyers. Sometimes seeing the dates reinforces the urgency.

Terry,   We're going to see it aren't we?   Thanks Terry.

George,   You used the word "sense" :-) That explains it doesn't it?

AUG

Kris

This is great, do you mind if we use this in our KW office? I like the simple format you used.

Donna Harmatuk

www.newbernhomesonline.com

AUG

Hi Donna,

Thank you. I don't mind if you print it out to share with the agents in your office as long as no one uses it for online marketing (their own websites or blogs. Search engines penalize for duplicate content..)

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