The Disappearing Time Table for the Home Buyer Tax Credit
August 20th, 2009
Categories:Real Estate News
Will you be able to find a home and close in time to receive the $8,000 tax credit?
Let’s look at the home buying time line and discuss some of the pitfalls you’ll want to consider before spending any more time sitting on the fence or gambling on short-sales.
What We Know:
- Tax Credit “expires” on December 1st, 2009
- You must close on your home by November 30th
- The IRS says there will be NO exceptions
- Rumors of next year’s tax credit have gone silent
Time Factors for Each Party in the Transaction:
Depending on who owns the home and what process they are using to facility the sale, will vary greatly from home to home. Here’s a breakdown of how long each major phase of the sales process takes. Take note of the never ending list of reasons for a short sale to be delayed. Read the rest of this entry »
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