REO Pro - Real Estate Default Professionals

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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!

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Comment by Linda Landry on August 17, 2009 at 9:50am
Thanks Denise that is so true as one can never predict delays!
Comment by Denise Stovall on August 17, 2009 at 9:36am
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

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