Stephanie Mc…, Home Buyer in 14611

can we buy a house in a month?

Asked by Stephanie Mccullum, 14611 Sat Oct 24, 2009

we're looking to get in on the tax credit, does anyone know if it is possible to buy a house within a month's time? we have just started looking but already have a handful of favorites to check out, and won't be relocating.

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Maureen L.To…, Both Buyer And Seller, Rochester, NY
Tue Nov 17, 2009
Hi Stephanie,
if you are wanting to utilize the Tax credits available now, they have been extended and improved through mid next year.
Send me an e-mail reply or call if you like.I will provide you with all the services you will need to find and purchase and close your dream home.
Thanks for the inquiry

Maureen L Toombs, REALTOR
RE/MAX® Realty Group
40-A Grove Street, Pittsford NY 14534
Off 585-389-1031, Cell 585-259-5287
Toll Free 800-333+-8136 x 131
fax 585-389-8031
2002 REALTOR-Associate®, 2006 Fran Henty Award
Women's Council of REALTORS®
President-Elect 2010

Interest rates are amazingly low........
Ask about the $8,000 or $6500 tax credit EXTENDED TO MID 2010 the way I am never too busy for your referrals!

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0 votes
Jeannine Whi…, , Rochester, NY
Fri Nov 13, 2009
Hi Stephanie,

You may already be aware, but the tax credit just got extended until April 30th, 2010! So you just got 5 extra months to take advantage of the credit, although I would not wait! Please let me know if you have any additional questions! Jeannine Whitaker
0 votes
James Gordon…, Agent, Hamilton, OH
Mon Oct 26, 2009
FHA would scare me but conventional could happen. Been there done that 2 weeks contract to close.
Web Reference:
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Aaron Lazenby, , Rochester, NY
Mon Oct 26, 2009
The honest answer from one who is in the mortgage business, is no it is not likely. It really does not make much difference if you are seeking a conventional or FHA loan, most lenders are taking at least 45 days from start to finish due to a huge influx of people such as yourself trying to get in "under the gun". I could tell you otherwise, but I would be lying. I am however local with offices in Fairport and Canandaigua and would be happy to answer questions you might have on your financing options and the mortgage process. There is talk of extending or expanding the tax credit, but nothing new in stone as of yet. Best of luck!
0 votes
Michael Wal…, Agent, Rochester, NY
Sat Oct 24, 2009
Hello Stephanie,

It is a really ambitious goal to close a home in a month, especially this month. Bankers are extremely busy and bogged down with loans. You're going to need to select a local lender and have your Agent stay on top of it the entire way. If you are going conventional you have a chance ... FHA is going to be impossible because that's one more "set of eyes" that needs to approve and go over the paperwork.

If you aren't able to make it by the deadline ... It's still a great time to buy. Interest rates are low, prices are great, and sellers are anxious! There is still the off chance that the incentive will be extended.

Just as important as the $8,000 is the ability for your agent to negotiate the best price on your purchase. I would recommend that you pick an agent that is skilled at both negotiating as well as pricing properties. You'll quickly negate any "incentives" you get by paying too much! Please don't hesitate to contact me with any other questions you might have.

Michael Walker
Broker Associate
Century 21
0 votes
Kristen Wahl, Agent, Pittsford, NY
Sat Oct 24, 2009
Stephanie, I agree that it's tough but can be done. If I were you I would speak frankly with a local lender ASAP and tell them your situation. Most good agents have lenders they really trust and can recomend to you. An FHA loan will be very tough and maybe impossible to close within a month, but if you can qualify for a conventional loan you should be okay. I would just think about putting in a purchase offer ASAP! The credit is a great opportunity, and I would hate to see you miss out.

Working with first-time buyers is one of my specialties, and I would love to help you out if you're interested. As a buyer, my services to you would be absolutely free. It's good to have an agent looking out for your best interests!

Take care, and good luck. Don't hesitate to contact me if I can help in any way!

Kristen Wahl
(585) 455-5524
Web Reference:
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G. Harlan Fu…, Agent, Pittsford, NY
Sat Oct 24, 2009
It is certainly possible - but things, or processess, you will need to be aware of and make sure line up perfectly are: your choice of mortgage lender and how quickly they can process and respond to your mortgage needs, your attorney and the seller's attorney and how available and in-tune with the process they are, the seller and their ability to accomodate such a quick closing, or be flexible on possession dates after closing, and of course whom you choose as an agent to help guide you through a demanding schedule and who is available at a moments notice - also a greatly experienced agent who has great contacts for expedient mortgage lenders, good attornies, quick & thorough home inspector, etc.

Harlan Furbush
Associate Broker
RE/MAX Realty Group
0 votes
Raymond E. C…, Agent, Ontario, NY
Sat Oct 24, 2009
Stephanie, It would depend on a number of items; mortgage approval, will ii be an FHA mortgage. If I may be of assistance feel free to contact me.
Thank you,
Raymond Camp
0 votes
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