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Important Lending Information

By
Real Estate Broker/Owner with Preferred Properties Land & Homes #18909

I think most are aware that April 15 is the income tax return deadline. It also means something for anyone looking to purchase a home. Starting on April 15 anyone who is wanting to purchase a home must provide proof that they have filed their federal income tax return with IRS, that the return has been received and processed by IRS, and if any tax liability was owed for 2013 that is has been paid with IRS. If a return has not been filed for 2013 by April 15 then an IRS approved extension must be provided in order for the loan to be closed. Do not let a home purchase get delayed by not being prepared. Just helpful information worth sharing.

Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Hi Trisha,

Not having a loan approved because of tax returns not taken care of by April 15th would not be good news! Thanks for the reminder.... Only a few weeks left to file!

Mar 22, 2014 01:46 PM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Trisha, many buyers are unaware of this requirement.  I currently have a buyer who is waiting for verification that the IRS has received and processed his return.

Mar 22, 2014 06:11 PM
Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

I wasn't aware of this new rule, but it certainly makes good sense.  And, it gives incentives to buyers to get those tax returns in!

Apr 02, 2014 06:44 AM