3 Things to Say “YES” to as a Home Buyer
Make no mistake about it – the home buying process is a sophisticated transaction that has become even more complicated in recent times. Short sales and foreclosures are more prevalent, lending restrictions are tighter, negotiation opportunities are around every corner, and the deadline for the $8k tax credit is nearing. A professional real estate agent is experienced in these new situations and knows exactly what to do to protect your interests in each case and ensure the necessary paperwork is completed. Whether you are buying a home from a seller or the bank, an agent can lead you down the straightest, simplest, shortest path to that home purchase. Why deny yourself the security and advocacy of representation? Find expert Buyer Representation here
One of the very first things you should do in your home buying quest is get pre-approval from a lender. This is a fairly simple course of action that will be invaluable to your home buying process. Not only will you find out how much house you can really afford, but sellers will almost certainly ask for a pre-approval letter with your offer. So you’re saving yourself precious time later on. Contact your bank or mortgage lender (you may want to consult several to find the best rate) and request to be pre-approved for a home loan. The lender will need various financial records from you and will conduct a credit check to determine how much money they are willing to loan you and at which rate. The lender will provide you with a letter of loan commitment up to that certain amount.
Investigating the $8k Tax Credit NOW
Time is running short on the federal $8,000 first-time home buyer tax credit. The deadline to close is only 2 months away. If you are wondering whether you qualify and could get the tax break still, now is the time to find out! It typically takes 45-60 days for a residential real estate transaction to close (that’s not talking about short sales, which take at least 3 times as long). Plus, as the December 1st expiration date for the $8k tax credit draws closer, a crush of last minute buyers trying to get in before the cut off may slow things down. Talk with a real estate professional today to see if you qualify and get the ball rolling.