Property Q&A in Oyster Bay>Question Details

Sasha, Real Estate Pro in Rosedale, Queens, NY

What are the chances a Buyer (Seller) will meet the cut off (Tax Credit)?

Asked by Sasha, Rosedale, Queens, NY Sat Mar 20, 2010

Hi All

I was wondering how this would work out.

I am pretty excited!! Spring has spring!

As of lately I have conducted a few listing appointments but my potentials have advised me they are not interested in listing until the beginning of April and will not be able to show until mid April.

If a listing is not able to start showing until the 2nd week in April what are the chances the buyer will make the cut of the 2010 tax credit?

Help the community by answering this question:


There is no guarantees in today's market. Some listing go into contract very quickly but get bogged down by the banks and then there are others that will remain on the market and when in contract close relatively quickly. I have ran into the same problem with one of my sellers but they still insist on putting their home for sale when they are ready in May not taking into consideration that there are tons of buyers aggressively scouting right now. It would be great i the tax credit is extended.

I wish you all the best and here's to a better year.
0 votes Thank Flag Link Sat Mar 20, 2010
I have been telling my agents to inform their sellers and potential listing that they need to be aggressive about finding a buyer NOW! They have to be in contract by April 30 or as I just read have an accepted price (signed Binder) and close the Transaction by June 30. The two months to close is doable but to get to an accepted time is running out. Use it to motivate your sellers to price break.
0 votes Thank Flag Link Sat Mar 20, 2010
If they go into contract right away, and have a lender who can work quickly it may be doable--but your guess would be just as good as mine--things can happen to slow the process down, therefore it's not advisable to offer any guarantee.
0 votes Thank Flag Link Sat Mar 20, 2010
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