Did you know that Active Members of the Military as well as Veterans can qualify for VA loans that finance 100% of the purchase price of a new home. This does not mean that all of the buyer's costs are covered, however. Rather, it means that the purchase price of the home will be included in the loan. There are additional closing costs including recording fees, title preparation, prorated taxes, etc, that can add up to anywhere between 2 and 6% of the total purchase price. The VA may add an additional 1% fee to those closing costs. Buyers can ask sellers for concessions at closing to cover those closing costs.
In other words, a VA buyer who has identified a home priced at $192,000 might offer the seller $200,000 and then ask for the $8000 (@6%) back at closing in order to cover the purchase price and the closing costs.
Additionally, Active Duty members of the Military, Foreign Service, and Diplomatic core, who were overseas last year may still qualify for the Federal Homebuyer's Tax Credit.
All of these details can be confusing and overwhelming, so please contact a mortgage broker to find out what the best programs are for you to buy a home today.
Check out my website http://sellwithselig.com
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Wednesday, September 22, 2010
Wednesday, September 15, 2010
First-Time Homebuyer Credit: Members of the Military and Certain Other Federal Employees
Are you or someone you know in the Military, Intelligence Service, or Foreign Service? If so, the Federal Home Buyer's Tax Credit is still available to you.
First-Time Home buyer Credit: Members of the Military and Certain Other Federal Employees: "Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. http://www.irs.gov/newsroom/article/0,,id=215594,00.html
Plus there are VA loans for up to 100% of the sales price available. With current low interest rates, plus a buyer's market, this is definitely a good time to buy.
- Sent using Google Toolbar"
Check out my website http://sellwithselig.yourkwagent.comFollow me on twitter: http://twitter.com/sellwithselig
First-Time Home buyer Credit: Members of the Military and Certain Other Federal Employees: "Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. http://www.irs.gov/newsroom/article/0,,id=215594,00.html
Plus there are VA loans for up to 100% of the sales price available. With current low interest rates, plus a buyer's market, this is definitely a good time to buy.
- Sent using Google Toolbar"
Check out my website http://sellwithselig.yourkwagent.comFollow me on twitter: http://twitter.com/sellwithselig
Wednesday, September 1, 2010
So much for vacation!
My goodness, I had no idea how difficult it would be to take a vacation and not answer my phone... I totally failed!
There were very good reasons for why I had to answer my phone. One of my listings is under contract pending the home inspection report, but a few problems had arisen during the inspection and my clients and I were waiting for the addendum to the purchase and sale contract from the buyers. We received this document about 1 hour before their deadline for submitting it, and the day after I left. Unfortunately, my fabulous colleague who was covering for me was having some technical issues (or maybe I was) so that none of the attachments were forwarding to her. Consequently, I spent time on the phone calling her, my clients, and the other Realtor(r) in order to sort through the last negotiations.
So I thought I could put my phone away then... ha! Because my husband and I had gone off in different directions, I put my phone in my pocket to make it easier for us to reconnect later that day. The call I received was not from him. Instead it was from another colleague with whom I am co-listing a very challenging property. He had confronted an issue with our clients relating to a driveway easement and property improvement that left him flustered and frustrated;10 minutes later, he finished telling me what was happening and I finished guiding him through the next steps. I was glad to have been able to help, and set off again to get work out of my mind and focus on just having fun.
The next couple of days involved emailing once per day and then not touching my phone for any work purposes... except texting my buyer clients about the showing they requested while I was away... and responding to the angry email I received about a canceled appraisal I knew nothing about... and re-responding to the addendum issue I wrote about above... and answering a phone message about a property as we drove home... and calling back another client once we were home to answer the questions she had generated while I was away.
Actually, I did manage to have a pretty good vacation with a lot of quality time spent with my family. Next year, though, I am leaving the country!
Check out my website http://sellwithselig.com
Follow me on twitter: http://twitter.com/sellwithselig
There were very good reasons for why I had to answer my phone. One of my listings is under contract pending the home inspection report, but a few problems had arisen during the inspection and my clients and I were waiting for the addendum to the purchase and sale contract from the buyers. We received this document about 1 hour before their deadline for submitting it, and the day after I left. Unfortunately, my fabulous colleague who was covering for me was having some technical issues (or maybe I was) so that none of the attachments were forwarding to her. Consequently, I spent time on the phone calling her, my clients, and the other Realtor(r) in order to sort through the last negotiations.
So I thought I could put my phone away then... ha! Because my husband and I had gone off in different directions, I put my phone in my pocket to make it easier for us to reconnect later that day. The call I received was not from him. Instead it was from another colleague with whom I am co-listing a very challenging property. He had confronted an issue with our clients relating to a driveway easement and property improvement that left him flustered and frustrated;10 minutes later, he finished telling me what was happening and I finished guiding him through the next steps. I was glad to have been able to help, and set off again to get work out of my mind and focus on just having fun.
The next couple of days involved emailing once per day and then not touching my phone for any work purposes... except texting my buyer clients about the showing they requested while I was away... and responding to the angry email I received about a canceled appraisal I knew nothing about... and re-responding to the addendum issue I wrote about above... and answering a phone message about a property as we drove home... and calling back another client once we were home to answer the questions she had generated while I was away.
Actually, I did manage to have a pretty good vacation with a lot of quality time spent with my family. Next year, though, I am leaving the country!
Check out my website http://sellwithselig.com
Follow me on twitter: http://twitter.com/sellwithselig
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