By Sara Huebener
Buyers who are looking to take advantage of the $8,000 tax credit need to really start moving on home searches if they have any hopes of fulfilling this objective. Properties must be closed no later than November 30, 2009 in order to take advantage of the tax credit. When one takes into account the time it takes to get pre-approved for, search for, offer on, negotiate, inspect, and arrange financing and title work on a property, 125 days is not a lot of time.
If the buyer is looking in the $150,000 or lower price range, this market has become a seller's market and offers must be highly competitive in order to stand any chance of being accepted.
If a buyer wants to write an offer on a short sale, the timelines short sales require to complete are almost already at the point of being nearly impossible to get closed by November 30.
The clock is ticking.... if you know of someone who needs to get into a house before November 30, please have them contact us ASAP at 952-212-3597.
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