April 30th is fast approaching. To date we’ve seen a strong up tick in activity but there are still some potential buyers out there banking on an extension, lower rates, lower home prices, etc. By April 30th a prospective buyer looking to take advantage of the current tax credit (either the “first time home buyer” or the buyer looking to sell and rebuy) must have an accepted purchase agreement signed by all parties. The offer does not need to close until June 30th but you must have your offer accepted by the end of April.
So how can you best get there from here?
1. Get preapproved – it doesn’t cost you anything to get preapproved and then you’ll know anticipated payments, and closing costs and what loan is best for your needs and a potential price range that’s comfortable.
2. Meet with us to discuss your needs and wants in a home.
3. Tour homes – on average our clients will find the home they want after touring 25-30 homes. Why so few? Because we help them sort through all the ones they don’t want prior to going out. Maximizing your time yet still allowing you tour an appropriate amount to feel good about your home purchase and understand what’s out there.
4. Select the home our a short list of 3 or so you’ve narrowed it down to.
5. At this point we compile a market analysis for you so you can be educated and shown the numbers of the neighborhood – we go way beyond Zillow and tax records and also discuss the positive points for resale.
6. Make an offer – you’re close at this point! We typically recommend its contingent upon professional inspections, ability to continue to have financing, and other items for the protection of the buyer.
7. Should everybody agree on price and terms, you’ve made it to the point you need to be at by April 30th.Whew!
The remaining steps can be done in between April 30th and close.
You can take advantage of this market, there are many loan options available and lots of homes to choose from. The time to act is now!