Home Buyer Tax Credit To Expire on June 30th

Posted by admin on Jun 3rd, 2010 | no comments home title

Home Buyer Tax Credit To Expire on June 30th

As you know, the Homebuyer Tax Credit is set to expire as of June 30th. For those that were able to execute a contract at the end of April have until the end of June to qualify.

Be very aware of your pipelines and ensure that the lender that is underwriting your file is able to underwrite the file in a timely manner that will meet the deadline…

What should you do?

Ensure all documents needed or outstanding are expedited and forwarded to your lender immediately
Find out if the Loan Officer is lender or a broker and with what company. Depending what and whom, this can very likely delay the loan.
Work conduscively with your agent, lender, title company and all other parties to the transaction
1. DO NOT ARGUE OR GET FRUSTRATED, JUST GET WHATEVER IS REQUESTED OF YOU TO THE RESPONSIBLE PARTY!
Ask questions as to all stages of the transaction and notify all the parties so everyone is in sync with the process

Example:

Has the appraisal been ordered?
Is the lender going to submit their bank approval on the short sale on time?
Are all the parties going to be in town in order to sign quickly?
Have all the verifications been ordered and/or recieved?
Has the title company ordered and forwarded the “CORRECT” information to the lender?
Etc..

The point is, is to be on point and work diligently.

We are closing deals within 10-15 days and this may very well be an opportunity to ensure the client or your loan to close in a timely manner.

Call us if you have any questions at 480.344.3671

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