Why You Shouldn’t Wait To Use the First-Time Buyer Credit

We passed the first-time buyer credit, and it went so well we did it again, but with a twist.  This time, we offered up to $8000 back to first-time buyers, as well as another $6500 for people who were “moving-up”.  Again, here are the details

As we wind down to the expiration of the credit, I thought it might be a good reminder for folks.  If you’re going to utilize the credit, it’s probably not in your best interest to wait to close until April 30 2010 to close.  In fact, I’ll be recommending to clients that they close right around tax day … fun, right?  Tax Day AND spending hundreds of thousands of dollars on a house?!  Do I know how to party or what?

Seriously, don’t wait until the last minute.  Delays always happen, including the day of closing.  Waiting until April 30th at 4:00pm to close only to find out that the loan wasn’t funded and you won’t be able to close until the following week is at a minimum an $8000 mistake, and that’s only if the seller doesn’t hold you liable for expenses incurred on their end.  And don’t forget that the two busiest times of the month for a closing attorney are (1) the end of the week, and (2) the end of the month.

Yatzhee – April 30 2010 is both a Friday and the end of the month.

If you’re a first-time buyer and you want to meet this deadline, email me or call me and let’s talk about how to get started.  There’s still time, but we need to get moving.

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3 comments

  1. Jeremy_Hart says:

    Dude – I freak myself out sometimes, as well!

    Good to meet you, thanks for the tips -it's nice to see some of these
    things in action. Looking forward to learning more!

  2. Great post. We speak so much of the same language I was kinda freaked out to meet you today. You're market is so blessed and lucky to have you in it. I hope they realize that!!

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