Home Buying in 18102>Question Details

Natalie, Home Buyer in Allentown, PA

if i havent put an offer on a home just yet? is it too late?will i still have time for the $8000.?

Asked by Natalie, Allentown, PA Mon Oct 5, 2009

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Anne Kohls’ answer
Hi Natalie,

It depends.... (Don't you love that answer)! If you are writing an offer on a privately owned home, it isn't too late. If you are considering a foreclosure, it probably isn't too late. This would depend on how quickly the bank responds to you. Finally, if you are considering a house that is listed as a short sale, it could be too late. It depends on who holds the mortgage, how many mortgages are there, has the short sale process been started, etc.
0 votes Thank Flag Link Thu Jan 21, 2010
Sure you have time. The settlement must be before December 1st, 2009 in order to qualify for receiving an up to $8K tax credit which you would receive in 2010.


Hope that helps,

Terrence Charest, e-Pro
1 vote Thank Flag Link Mon Oct 5, 2009
No Natalie, It's not too late. But please act fast if you do want to take advantage of the tax credit, because you must be under contract by April 30, 2010 and close by June 30, 2010. If you have any other question, please feel free to call me at (484) 629-2666. And Good luck!
0 votes Thank Flag Link Thu Jan 21, 2010
Hey natalie- the tax credit was extended to april 30th. But you should still move quickly. I can be reached on my cell at 610-737-5369. Or email at slasalle@weichert.com.
Web Reference: http://www.seanlasalle.com
0 votes Thank Flag Link Mon Nov 16, 2009
You need to get "moving " it takes up to 30 days to close you are cutting this very close. Are you qualified for a loan if not then that is your 1st start, it can take approx. two weeks search for a home obtain an executed sales contract.

11.30.09 at ll:59 PM you need have titel in your name

Keep in mind you receive annual tax benefits owning a home

Good luck with our search

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
Lynn911

http://www.lynn911.com
0 votes Thank Flag Link Thu Oct 8, 2009
Hello Natalie!

Yes, you have time to still get in for the tax credit but you will need to be working with a Real Estate Team that is on the ball.

8000 Tax Credit Home Buyer Tips

1) You will need to be under agreement on your new home no later than October 30th, 2009, which if it was meant to be for you to get a home than this will be plenty of time.

2) I am assuming you will need a Mortgage Loan to purchase a home, as most consumers do and this is why you need to be under agreement by the end of Oct because it takes 30 days for the Bank to get everything together to close on your loan

3) If you have not decided on a Buyer Agent to work with yet...please check me out - I am available to help you reach your goal. http://www.LehighValleyRealEstate.TV

4) There is also a program through the state of PA where you can get a portion of the 8000 to use toward closing cost...but, there is only one local company that works with this program that I could find and really works with it. http://www.TomFlad.com Tom is with MetLife Home Loans in Allentown - You may qualify for $5000.00 to help you with your closing costs if you are looking at a preowned home. More Info Here on my Buyer's Only Page: http://www.allentownpahomesforsale.com/Buyers_ONLY/page_2220…

5) I have also included the link to the Home Buyer Tax Credit Website which is easy to understand - just in case you have questions.

I hope this helps you and good luck if I do not hear from you.
0 votes Thank Flag Link Mon Oct 5, 2009
It is not too late. But you need to act quickly. You will need at least 45 days to close on the house. Do you have an agent? If you'd like to meet and have someone represent you please contact me.
Sean LaSalle
610 737 5369.
Web Reference: http://www.seanlasalle.com
0 votes Thank Flag Link Mon Oct 5, 2009
Natalie,

Your question is one that we expect to become more common on Trulia as we approach the November 30th deadline.

Yes, you still have time to complete a normal sale prior to the deadline date, provided you can act quickly. In our opinion, at this point it would be advisable to avoid "short sales" that typically require additional time to close.

You can help your cause by getting pre-approved for financing as soon as possible. This should speed up your process and help you close more quickly.

Title and closing companies will likely be swamped during the last days remaining for the program. We recommend trying to get your sale done by at least the week prior to the end of the program.

Good luck

The Eckler Team
0 votes Thank Flag Link Mon Oct 5, 2009
Natalie,
I wouldn't wait for it to pass! One glitch in the title work, or underwriting could push you out. If you have a home in mind, go for it!

Good Luck!
Web Reference: http://www.abemills.com
0 votes Thank Flag Link Mon Oct 5, 2009
I wouldn't wait too long though. Settlements of less than 45 days can occur but I wouldn't push it too much quicker than that.
0 votes Thank Flag Link Mon Oct 5, 2009
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