Home Buying in 80204>Question Details

Cathy, Home Buyer in 80211

ARE THERE ANY STIMULAS PACKAGES FOR BUYIN A HOUSE WITH CASH?

Asked by Cathy, 80211 Sun May 10, 2009

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6
Hi Cathy,

If you are buying a buying a house with cash, you can still get the $8,000 credit if it is your first home within 3 years. My website gives you access to bank owned poperties at the following link. You will find great properties usually at a significant discount.:

http://www.denvercoloradorealestatenow.com/page/93632/BuyaHo…

There are many other great features for buyers on the site.

A cash deal has the potential to close much quicker than an ordinary deal. Call me and together we will find you a great deal and get it closed as quickly.

Thanks,

Ethan
303-856-8980
1 vote Thank Flag Link Sun May 10, 2009
Simply for buying cash, you can offer a discount if you can close in 10 days. Sometimes the discount is substantial - I offer all-cash, no contingencies, close in 10 days - for that, depending on condition of the property, I can obtain 30 to 50% discount (amounting in the tens of thousands of $$) on the comp value of the property.
0 votes Thank Flag Link Mon May 11, 2009
Cathy,
Good morning! You are absolutely entitled to an $8000 tax credit as long as you have not owned a home in the past 3 years. I believe you have to close in November or before to be entitled to the credit. Let me know how I can help you.
Derrek
303-470-9880
derrek.patrick@coloradohomes.com
0 votes Thank Flag Link Mon May 11, 2009
The other Realtors are correct in that all of the same stimulus packages are the same whether you finance or purchase w/ cash. If you are an investor it might be wise to leverage your cash with mortgages (since the rates are below 5% right now and the interest is tax deductible - speak with an accountant for exact details)

There is nothing wrong with purchasing w/ cash especially for your primary residence however many folks are taking advantage of the low interest rates which could be considered a stimulus. If you purchase with cash then you would miss out on the low interest rate "stimulus."

Call me if you would like to talk numbers
Web Reference: http://www.davejanis.com
0 votes Thank Flag Link Sun May 10, 2009
Good question, I think the Tax benifits are the same for first time cash buyer and financed buyer.
Please check wit your Tax Person to answer this question.
Brian
0 votes Thank Flag Link Sun May 10, 2009
As long as you have not owned a home in the past 3 years you will qualify for the $8000 tax credit. There is not a requirement that you use a mortgage to purchase.

If you are looking for a home now is a great time. Prices are starting to climb on the lower end but there are still some great values. If you would like to see some available homes please contact me and I will be happy to email you homes that meet your needs. I look forward to speaking to you.. I can be reached at 303-726-1187 or at dennis@dennisquinnhomes.com
0 votes Thank Flag Link Sun May 10, 2009
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