Tucson First Time Home Buyers 114 Shopping Days Left
June 10, 2009
Post Tags: Add new tag , buying-a-home , first time home buyer , first time home buyer tax credit
There are 172 days left before the $8000 first time home buyer tax credit expires. Why then do I say there are only 114 shopping days left?
Buying a home isn’t like going out and buying a new pair of shoes. It isn’t like picking up tickets for the game this weekend. It really does involve “shopping”
Where the 114 days come from
- 45 days typical closing first time home buyer
- 10 days for inspection period
- 3 days for acceptance of offer (may vary)
This totals up to 53 days once you have decided this is the home for you.
This leaves 114 days to find your home. That’s not a lot of time.
TIME IS RUNNING OUT
THE CLOCK IS TICKING
THE COUNTDOWN HAS BEGUN
THE END IS NEAR
Okay, that last one has other connotations but it is true.
There is no mulligan here, no do over, no extension of time. Don’t put off buying your first home if you intend to by anyway. $8000 paid to you directly is a big sum of money. Not a deduction, an actual check to you. There are some states providing bridge loan programs to use this for upfront money. Some are making it so you can use the funds for closing costs.
Don’t get to the place where it is Nov. 30, 2009 and you are a day away from closing only to find out docs aren’t going to be delivered to title till Dec. 2nd. Don’t push the limit. Don’t put yourself through days of nail biting to see if you will close on time.
This isn’t like being late on filing your taxes and having to pay a penalty. It is much worse. You lose the entire $8000, not part of it for being late, ALL of it for being late.
Get busy, don’t put it off. Weigh your options and plan to be already in your new home and celebrating when the Dec. 1 deadline comes.
You will feel much better if you do not wait.
