Thanks to Melissa Kulikoff, Senior Loan Officer at Supreme Lending, San Antonio, for the following alert for buyers hoping to close their purchase in time to qualify for the up to $8000 first time home buyer Federal tax credit.
Quoting Melissa -
"Let’s take a look at our November time line for closings.
The tax credit expires the Monday after Thanksgiving. I’ve checked with several title companies and most of them are NOT open Friday.Therefore, your deal must be clear to close with docs drawn Wednesday 11/25 to close on 11/30.
Is your closer going to be able to get closing document approval that quickly and still close & fund on 11/30? Better ask now!
Are you a VA buyer? Please remember VA appraisers have 10 days to provide the appraisal report. That means if a VA appraisal is ordered for you on the 2nd, it might not arrive until the 16th……..not a lot of time for the lender to review the appraisal and issue a clear to close authorization to your title company.
If you have a real estate agent and aren’t sure where your closing stands, call your him or her right away. A $8000 federal tax credit is a lot of money. Make sure everything’s being done to insure you close on your purchase by midnight 30 November.
Please contact me right away if you’re a buyer who is still “shopping” for a lender.
Time is running out. Contracts I receive after 11/10 will likely create heartburn for all involved trying to close before the credit expires." ___________________________________________________________________________
You can contact Melissa at Melissa.Kulikoff@supremelending.com, telephone 210 807-6850 or 210 807-6851.
If you have realty questions or need realty advice or assistance, contact a member of the SanAntonioHomeQuest.com Realty Solutions Team at swkrealtor@aol.com or kelleybus@aol.com, telephone 210 863-2661 or 210 867-8743.
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