If you are one of the many first time homebuyers out house hunting then you are probably hoping to cash in on that 8k dollar tax credit, right?
The good news is that almost everyone can qualify! The tax credit is basically FREE money the government is giving away just to get you into a home! The most important thing you need in order to qualify, is to not have owned a home (or had interest in a home) in the past 3 years.
The even better news is that there is still time for you to cash in!! Buyers have until April 30, 2010 to be under contract on a home (the home must close by June 30, 2010). So if don’t want to miss out on all this cash then it’s time to get serious about the house hunt! But how do you get started? What do you need to know before house hunting? Despite the vast information available online it can get quite overwhelming for today’s first time home buyers, not only in Orlando. Therefore we have decided to provide help for Orlando’s first time home buyers:
Together with Watson Realty in Lake Mary we will offer two FREE first time home buyer seminars on Thursday April 1st and Saturday, April 3rd. During the seminar we will cover important topics and answer important questions such as:
- How can I claim my $8,000 from the government?
- How can I find and save $$$ on Bank Owned Homes and Foreclosures (Free Foreclosure lists will be available upon request)?
- How can I buy with only 3.5% down?
- Where in Orlando can I still buy a home with Zero down?
- What can I expect at the closing of my first home?
Refreshments and cookies will be served. Reserve your spot today and invite your friends/family.
After the presentation, break out sessions will be held on the specific subjects so you can ask detailed questions, set appointments with our mortgage lender to get pre-qualified (same day if you wish) or meet with one of our neighborhood experts to determine the neighborhood of your choice and set up a search. We will also show you how to best utilize your free private home search page so you won’t miss out on the market’s hottest real estate deals.
First Time Home Buyer Planning Tip:
Remember that from the start of the house hunt to date of closing can take up to two months and that is for a “traditional” sale. Unfortunately the majority of homes on the market right now, are “short sales”. Despite the name, these types of sales are anything but short! A short sale can take anywhere from 2 – 5 months to close (sometimes even longer or not at all!).
So right now it is important to figure out if you want to take advantage of the tax credit and only consider bank owned homes and regular listings that can close by June 30, or if you want to take your time and consider any home in the market, including short sales. You may even find that there simply is not a single home out there right now that fits your needs. We have had customers deciding that they will wait on a short sale right now rather than looking any further because they feel that they finally found their dream home. That is completely understandable if you absolutely love the home you put a bid on – and if you can live with the consequences of the risk you are taking. Worst-case scenario is that you miss out on both your dream home and the tax credit. Therefore our advice: only move forward with a short sale right now if you can live with the worst-case scenario!
There are still lots of homes available that can be under contract by April 30th, and close by June 30. If you can’t make it to our seminar but are interested in obtaining a list of these homes, feel free to contact us at 407-340-6458 or email us at firstname.lastname@example.org. We have helped many first time home buyers find their first home and walk away 8k dollars richer, now it’s your turn!
PS: In case you are not a first time home buyer (as defined above), you may qualify for the $6,500 move up credit. Contact us today to find out if you do!