Special offer

$8,000.00 BUYER STIMULUS RUNNING OUT ~ TIMING IS EVERY THING !

By
Real Estate Agent

TIME IS RUNNING OUT TO QUALIFY FOR THE $8,000.00 STIMULUS!

 

If you are considering taking advantage of the $8,000.00 stimulus to assist with the purchase of your first home ~ time is running out.

On May 1stof this year a new regulation HVCC became law.  HVCC stands for Home Valuation Code of Conduct.  The content of the law is rather mystifying for buyers.  The detail is very industry specific and mandates the conduct of the participants.

The manner in which appraisals are generated has changed.  What is important for buyers to understand is that it has added "time" to the processing for any contract for sale to reach closing.

In the past most contracts could go to closing within 30 days.  That lead time has greatly expanded.  In many instances we see that it takes at least 30 days to get the appraiser to the property.

Allow sufficient time for your home to close so you do not exceed the last day to qualify for the program which is November 30, 2009.  You must take possession of the home prior to December 1, 2009, which translates to closing by November 30, 2009.

You should allow at least 45 days from the date the contract is fully signed by the seller to the closing date.  The home should be under contract no later than October 16, 2009 to achieve this comfort level.

As we get closer to the deadline more and more homes will go under contract.  The added numbers may cause an even greater backlog for appraisals. We are recommending to our clients to strive for a 60 day window to allow for any and all delays.

If you would like more information on this program please feel free to contact us.

__________________________________________________________

Bonnie and Jayne Vaughan - Driven and Dedicated Realtors. Serving Buyers, Sellers, Investors, Clarks Summit Pennsylvania

For more information and free MLS please visit THE SISTERS WEBSITE

Comments (0)