Do you know any First-Time Buyers? Important deadlines!
by Laura - August 13th, 2009.Filed under: Buyers, Ready Set Green Homes (sm), Tax Incentives. Tagged as: Buyers, real estate trends, Tax Incentives.
By now, most of you have heard about the tax credits for first-time homebuyers. Eligible buyers who close on a property by November 30th, 2009 qualify.
There’s nothing I love better than tracking deadlines. And in thinking backwards…here are some key dates anyone interested in this credit should be aware of:
* Nov 30th is deadline for a property to close to qualify (Monday)
* Nov 27th is the last Friday in November – buyers love to close on the last Friday of the month
* Nov 26th is Thanksgiving
* Nov 15th is my recommended closing deadline date (in case the title companies get backlogged over Thanksgiving!)
* Oct 1st is my recommended date to have a purchase contract complete (in case the appraisers get backlogged)
Also, time has more or less run out on a short sale property being eligible for the first-time credit. Typically these properties require 90 days or more to close. As of right now, we are 109 days out from November 30th. That doesn’t leave too much room for delay on a short sale.
Please consult your tax professional for more advice about the credit. And if you want more information about purchasing a home right now I would love to help. My Ready, Set, Green Homes programs might qualify you in an additional $1500 credit by making your new home more energy efficient!
