Time is running out rapidly if you want to take advantage of the First Time buyers Tax Credit. All our mortgage providers have been telling and warning us to get our buyers under contract by this week to make sure that their settlements can be completed no later than November 30th.
You cannot afford delays with settlement to get the credit. You must settle on or before November 30th. It is a little misleading when people talk about December 1st as that is too late and you will not qualify for the credit.
Will it be extended? Who knows, there is talk coming out of Washington this week that it will be extended and maybe even expanded to all buyers, but the safest option is to act now, get out with your buyers agent and look at properties, make sure your mortgage application documents are all in order and act now.