April 30th Deadline For Home Buyer Tax Credit Fast Approaching
Well, as I write this, the deadline for the Home Buyer tax credit is looming over us with just a few days to go.
I think we will still see some increased activity over the next week, especially this weekend regarding property hunters trying to secure a contract so they can get their Obama money.
However, I think activity is going to drop off in May significantly.
Springtime is usually a pretty hot time for home buying activity.
Most of the buyers that would have been looking in May and many from June are being pulled forward into the month of April.
Why wouldn’t they?
1) You have the opportunity to get a $6500-8000 credit from your government to buy a house, why would you wait?
2) Interest rates are still at historic lows and that will not last too much longer.
3) There is a bunch of inventory for people to look at, especially if they don’t mind buying a somewhat distressed property.
If you want to sell one of your investment properties and get that tax credit as the downpayment, you need to check out this webinar I did a few weeks ago. He can still get all of the materials to you overnight and you could have this working on ANY property you want to sell… even if your buyer doesn’t qualify for a loan at a bank.
Get the details here.
http://rapidreiresults.com
Keep in mind, you only have to have a contractual agreement with your buyer by the end of April. I’m still working on a few of my tenants to see if I can get a contract signed by the end of April. As long as it is executed by the end of June, they will still get the credit, which will be given to you as their downpayment.
You need to know exactly how to do this though so you don’t have the transaction disallowed by the IRS.
This explains what you need to know.
Disclosure: The webinar provides a solid base of information for you to run with. However, if you want to pay for the whole package, my company will likely be compensated for sending you over there.
