Buyers did you know that there is a deadline to receive your $8000.00 from Uncle Sam?
December 1st 2009 is the deadline for all the paper work to be completed. Which means that you should have everything in the works by October. To qualify for the $8000.00 tax refund a buyer must spend at least $100,000.00 on a new home.
Banks and mortgage companies are back logged with processing refinancing documents; therefore to allow enough lead time in order to close before December 1st it is advisable to have all your information and documents in your lenders hands in October. One must consider that there will be a lot of buyers trying to meet the December 1st dead line and not enough staff to accommodate all the applications. Attorneys will also be busy.
My best advice is to work with a realtor as soon as possible to find your dream home. Rates are very good right now and tax refund is a great incentive.
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