Start house hunting NOW! If you look at the timeline it should be clear that you should target having a property under contract within the next few weeks to be able to close in time. Call your Agent and get out there! Plan on closing by Nov. 20th at the latest. This will help you avoid the rush and ensure that you can close prior to the expiration of the tax credit. If you are not already preapproved for a mortgage you should do so immediately. Give us a call and we can work out a timeline specific to your needs and goals. Above all, don't panic. There is still plenty of time to find the home of your dreams and take advantage of the tax credit. You just need a plan to make sure you meet the deadline.
Time is Running Out!!
Start house hunting NOW! If you look at the timeline it should be clear that you should target having a property under contract within the next few weeks to be able to close in time. Call your Agent and get out there! Plan on closing by Nov. 20th at the latest. This will help you avoid preapproved for a mortgage you should do so immediately. Give us a call and we can work out a timeline specific to your needs and goals. Above all, don't panic. There is still plenty of time to find the home of your dreams and take advantage of the tax credit. You just need a plan to make sure you meet the deadline.
$8,000 First Time Home Buyer Tax Credit Set to Expire
Most people know that the first time home buyer tax credit will expire November 30, 2009. What many people don't know is what that means to them if they are in the market to buy a home. Now more than ever you need to have an understanding of the timeframes involved in purchasing a home to make sure you don't miss this opportunity.
Fact: The average timeframe from when you find a property until it closes is 30-45 days.
Fact: You will need some time to find the property that you wish to buy. Some buyers are
lucky and find their homes right away, others need more time.
Fact: The week before November 30th is Thanksgiving! Many
banks and title companies are traditionally closed for the last 3 days of that week.
Fact: November 30th is the Monday following the typical 3 day bank shutdowns.
Fact: There will surely be many, many buyers who will wait until the last minute to start looking for homes. This means that November 30th is sure to be an extremely busy day and many banks and title companies will not be equipped to handle all of the expected volume.
Fact: As more buyers start to frantically hit the market to take advantage of the tax credit the selection of properties is sure to decrease. This will result in fewer options for all buyers.
Fact: You NEED a plan to take advantage of the $8,000 tax credit. Waiting too long is a gamble that you should not take. You need to work with a team of professionalswho can develop a plan with you to hit the deadline
Important Highlights
• Tax Credit Expires Nov 30th
• It takes an avg. 30-45 days to get to closing
• You should target closing by November 20th to give you the best chance of getting the credit
• Don't wait too long to start looking for a home. You are likely to run into the expiration much sooner than you expect
• CALL YOUR REALTOR AND FIND THAT PROPERTY NOW!!!
For Further Questions feel free to contact us.To check Your Local Market Data go to Your Market Snapdshot CheckOut the latest Douglas county happenings and for further information about Metro Atlanta. If you have a Real Estate need in Atlanta trust the Full time Local professionals at Team Renton Keller Williams. For Free Home Search for Douglasville or Metro Atlanta go to http://www.servingdouglasvillehomes.com
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