No problem John. Good for you. I'm not making a commission here..LOL just giving sound advice to his question. But don't bring a 90 day closing offer on any of my listings:) also any day you wanna match up your personal closings with my YTD closed just let me know :)

Pete

To answer your question.

There is no reason that you can not make your offer with a cloing date of 12/01/2009. actually, that time frame should be totally acceptable to the seller.

If this is your first home, then make the closing date 11/25/2009 so you are enttitled to the $8,000 tax credit.

Email or call with any questions!

John Sacktig
Broker / Manager
Orange Key Realty
Office: 732-863-6969
Cell: 732-213-1409

Orange Key Realty
"The Fastest Growing Real Estate Company in New Jersey"

Pete- A 90 day closing is not realistic? Of course it is and it is common. If the seller wants to sell the home and these are the requirements of the buyer then they have the right to make their offer as they choose.
The client has a right to know they can date their closing as they choose and not be pushed in a deal by some fast talking Realtor salesperson needing a closing.

Realtors that push people into buying homes are the reason that the general public is leery of dealing with most Realtors. I am out to change that perception. So, you should "love us guys".

Coolguy,

Also the other variables that come into play are:
1) is the home vacant now? or what is the sellers situation and ideal closing date?
2) Will it cost you more money for such a long delay in closing? Or it can keep you from getting the house altogether. Most listing agents and their sellers dislike long closings beyond 60-75 days because they are high risk for the sellers. anything can happen during that time and sellers lose valuable time off the market should something go wrong. You as a buyer can get caught with higher interest rate as well because the recent market activity is putting pressure on rates as well. Odds are these very attractive rates will be going up because of so much pent up demand and many buyers trying to cash in over the next 3 months on the $8,000 tax credit. with a closing beyond 60 days (if you can find a lender with a good rate that will even lock it for you for that long) you will not be able to lock today’s rates beyond 60 days. Even small rate changes mean $1,000's more in interest over the life of a loan or even 5-10 years. To discuss your situation further, please contact me directly. I can offer much insight drawn from my 23+ year’s real estate experience as a top agent in the Central NJ real estate marketplace.

All the Best!

Pete Maimone
NJAR Million Dollar Distinguished Sales Club 1988-2008
Gloria Zastko Realtors (R)
Cell Phone: (732) 439-0472
email: pete@zastko.com
websites: http://www.petemaimone.com or http://www.zastko.com

PS: nice one John. Tell them (even re-tell them) what they wanna hear instead of reality. I love you guys :)

@ Gina. good points as well :)

Coolguyuk,

You can shoot for a December closing date but as Pete points out below, if you qualify for the $8000 tax credit, you will lose out on it if you do not close by November 30th. So if you are shooting to move-in by December, try not to lose out on the $8000 for a few days difference. It also depends on the seller - are they willing to wait until December or almost December to close? If not and you really want the house and can buy it now but not move in until December then only you can make that decision. Perhaps there's work that you can do to it before moving in. Sometimes buyers like to paint or resand floors and they just don't have that kind of time in between closing and moving in to do so but perhaps you can take advantage of that.

Good luck.

Gina Chirico, Sales Associate
Prudential NJ Properties
973-715-1158 cell
973-992-6363 ext 116
Gina.Chirico@PrudentialNewJersey.com

To answer your question.

There is no reason that you can not make your offer with a cloing date of 12/01/2009. actually, that time frame should be totally acceptable to the seller.

If this is your first home, then make the closing date 11/25/2009 so you are enttitled to the $8,000 tax credit.

Email or call with any questions!

John Sacktig
Broker / Manager
Orange Key Realty
Office: 732-863-6969
Cell: 732-213-1409

Orange Key Realty
"The Fastest Growing Real Estate Company in New Jersey"

Hi Cool guy. there are lots of variables to that situation. If you're a first time buyer or haven't owned any real estate in the past 3 years prior to Nov 30, 2009 you may qualify for the the $8,000 tax credit offered to such buyers. But you must close by Nov 30th. On dec 1st that gift of basically cash from the governement goes away.. So I would close on it if that is the case.