Time is of the essence!

I truly like this phrase! It speaks for itself doesn't it? I think so and it is so very pertinent when it comes to the current first time home buyers tax credit which expires at the end of November. In order to take advantage of this credit the transaction has to close/record before December 1, 2009. Since escrow dealings can take 30-45 days that means the transaction needs to be negotiated/accepted within the next sixty days. Not only is finding the right property time consuming but keep in mind you need to find the right real estate professional to assist you, the right lender and property inspectors. You will need to research details of the property; the inspections should include at the very least a termite and property inspector. If you or anyone you know is planning to take advantage of this opportunity the time to act is now!
E-mail me when people leave their comments –

You need to be a member of REO Pro Network to add comments!

Join REO Pro Network


  • Thanks Denise that is so true as one can never predict delays!
  • Great information and a big heads up for those agents with tax credit buyers out of contract. In Sonoma County, Nothern California...most lenders and brokers are recommending a 60 day timeframe. That means we have less than 2 weeks to get all your buyers wanting that tax credit in contract. It is critical to communicate with your buyers and all supporting professionals. Lenders seem to need the most time these days.

    Denise Stovall
This reply was deleted.