I have a buyer that is a first time home buyer. We have been looking for a home for the past two weeks and found thisgreat deal. This is a ranch home with the bonus room over the garage plus a full unfinished daylight basement. The prior appraisal estimated the home to be just under 2000 sq. ft (remember that does not include the basement). The prior seller paid $160K for the home in 2002. When I showed the home on Monday new carpet was being installed, new vinal was in the kitchen and the home was just painted. My buyer offered $106K and asked the bank to pay $4,800 in closing costs. The bank just countered back with a 109K purchase price. We should go under contract tomorrow with a sales price of $108K and the seller paying 4,800 in closing costs (net of 103,200). After my buyer receives the first time home buyer tax credit of $8,000 - he will be buying this home for around $95,200 - this is an amazing deal.
If you are considering buying a home, call me at 770 722-7010. I work with first time home buyers as well as people who have bought and sold many homes. My system educates buyers and allows them time to find the right home.
Want more information on the First Time Home Buyer Tax Credit? Email me at JohnFoster@remax.net. I will be happy to discuss what it takes to qualify.