Home Buying in Warwick>Question Details

Regent, Home Buyer in New York

THE CLOSING WILL BE SCHEDULE IN THREE DAYS AND WHEN I HIRE THE ATTORNEY I TOLD HER THAT I WANT MY MOTHER TO BE IN THE DEED TO GET THE TAX EXEMPTION

Asked by Regent, New York Sat Sep 26, 2009

NOW SHE IS TELLING ME TO WAIT AFTER THE CLOSING TO DO A TITLE SEARCH AND PAY HER AGAIN FOR THE SERVICE TO INCLUDE MY MOM IN THE DEED OTHERWISE IT WILL TAKE LONGER TO CLOSE

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Answers

3
You should contact your mortgage broker or an accountant. It is my understanding that to qualify for the tax credit ,ONLY individuals who have not owned a home in 3 years can be on the deed.
0 votes Thank Flag Link Mon Sep 28, 2009
What is the question? huh? Who is buying the home? who is getting the tax credit/
0 votes Thank Flag Link Sun Sep 27, 2009
There's no question here, so I want to make an assumption that you don't like her answer? You can delay your closing and ask your attorney to do the search on your Mom now. It shouldn't take too much longer IF you are not under the gun from your sellers w/closing deadlines. Is there a mortgage? Is your Mom going on the mortgage as well? Do the sellers have to agree to transfer the property to different buyers then first represented? If so, this will take longer, and you may actually miss the deadline to qualify for the $8000 at this point.
Jo-Ellen Ashby
RVP, Weichert Realtors, New York Region
0 votes Thank Flag Link Sun Sep 27, 2009
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