2009-08-24
The deadline for purchasing a home using the $8000 tax credit is November 30, 2009. You might be surprised to find out how quickly the remaining days left to take advantage of the “free” money from the government pass.
Let’s take a look at how you might use up your time remaining.
Before you even head out the door to look at houses you need to have made contact with a lender and start the pre-approval process. The further you get along in this process before you get in a car to look at a home the better. Which could take at least a week.
Now you are ready to actually head out and look. With lower inventory levels lower than last year, it would be realistic to think that it will take you 30 days to find a house. Then there is the contract negotiation process. If you are lucky and you have focused on seller owned properties you may be able to get a approval within 7 days. 37 Days Gone
With the new appraisal rules (HVCC) and the new lender rules (HERA) going into effect you can expect that getting your final loan approval will be 30-45 days. Let be safe and say 45 days Gone.
98
Days are left to take advantage of the $8000 tax credit.
For assistance in purchasing a home using the tax credit contact Chris Frantz of EDU Real Estate
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