The Clock is Ticking on that Home for Sale in Southern New Hampshire - Again

Once again, the clock is ticking for first-time home buyers to get a home for sale in Southern New Hampshire before the tax credit runs out. Extended in November, 2009, the first-time buyers’ tax credit is set to expire in April, 2010, and there are no plans for another extension.

What does this mean for you? If you’re a home seller, it’s time to look over your home for sale in Southern New Hampshire, make sure all your t’s are crossed, i’s are dotted and that you’ve done everything you can to put your home at the front of the buying line. If you’re a first-time or repeat buyer hoping to take advantage of the credit, it’s time to start looking for your new home; the binding sales contract has to be signed by April 30, 2010.

Making the Buying Process Easier
Many times, the buying process can take forever.  Red tape, failing negotiations and other snags have caused more than a few possible sales to fall through. So, what can you do to make the buying process easier? Here are a few tips:

1.    Find out if you qualify for the first-time or repeat buyer tax credit. The home buyer requirements are many.  If you can’t afford to buy a home without the tax credit, make sure you qualify.

2.    Shop for lenders before hand. Choosing a mortgage lender can be a lengthy process, so finding one you want to use before you start looking for a home will cut down on the time it takes to buy the house.

3.    Get pre-approved. Getting pre-qualified is the first step in the loan process, but it’s based on an estimate, not verified facts. By getting pre-approved for a mortgage, you know exactly how much you qualify for, and how much house you can afford. Because this is a large part of the buying process, once you’re pre-approved, the lender can expedite the rest of the deal for a quicker closing, though you should still expect 5-6 weeks to close your loan these days.  With all the changes to lending practices in the past couple years, 3-4 weeks to close is a thing of the past.

4.    Negotiate wisely. Remember that you’re on a time-line and try not to let negotiations with the seller turn into a contest of wills. Yes, negotiate, but make sure your counteroffer on the home is realistic.

Buying a great home for sale in Southern New Hampshire before the tax credit expires is definitely possible, even with only three months to go.  Following the tips outlined above can make the sale go as smoothly and quickly as possible.

Have questions about the home buyer tax credit?  Contact me at 603-821-1134 or dave@daveheeter.com.  If you want to start browsing properties, enter your search criteria in my MLS Property Finder search.