Homebuyer Tax Credit Expires June 30th

Posted: June 22nd, 2010  

The headlines are swarming with the lurking expiration date of the home buyer tax credit on June 30th. This is leading home purchasers to close as quick as possible to make this credit work for them, but leaving some panicked that they may miss out on the opportunity if the closing of their homes are delayed. The best way to certify that you get this tax credit and close before it is too late is to utilize these tips to expedite the process for your own good.

  • Make sure all paperwork on your end is taken care of. Gather pay stubs, tax documents, employment verification, and anything else of relevance that will be used to get you the loan. Make sure when all this footwork is done you get this to the lender ASAP so they can begin to process your loan faster.
  • Stay on top of the seller. Sometimes a seller will drag on their responsibilities in the purchasing process. Make sure you address them and the issues that may cause a delay. This could be inspection issues, code compliance’s, and appraisals.
  • Try to get the closing date set in stone a week before the 30th of June. Prepare for any hiccups but schedule your close as soon as possible this way your not stuck on the 29th with competition that has waited to the last minute.

It is a tragedy that not all candidates will make it to this date, however those of you who put forth the massive efforts to close by attending to every detail will perhaps get the last shot at the 8,000 dollar return on a home purchase investment.

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