The Tax Credit Extension Bill Has Passed

WOW! Talk about going right to the 11th hour!

H.R. 5623, the tax credit closing date extension bill, has now been passed by the Senate. All that is needed now is the President's signature. Once signed, this extension allows those home buyers who were under contract by April 30, 2010 and who meet the other criteria to close up to Sept. 30, 2010 and still get the tax credit they qualify for ($8,000 or $6500).

This legislation helps ensure the credit works for people who followed the terms of the incentive and need a little more time to close on their pending contracts.”

I had closings yesterday. My 1st time home buyers have been ready, willing and able to close since early March. Because they were buying a short sale property there have been many challenges involved with ultimately getting to the closing table. The Sellers Lender has taken their good old time to approve the purchase. Through no fault of the buyers or the sellers, we have been scheduled to close several times only to have to file Extensions for the closing date. Ultimately and typically the short sale bank extended this out to the very last minute. We were lucky. We finally closed at 3PM yesterday.

Due to the plethora of closings occurring not only at Better Homes and Gardens Real Estate Metro Brokers or the state of Georgia but nationally, there were many other buyers and sellers who were not as fortunate as my clients. Many transactions did not occur yesterday simply because banks and financial institutions were unable to handle the sheer volume of transactions.

If you are considering the possibility of purchasing your 1st, 2nd or even 3rd home OR if you would like to sell your current home, I will be happy to guide you throughout the process. Please call or e-mail me anytime to set up a time to meet and discuss your unique situation. I look forward to serving your real estate needs when the time is right for you.

Sara Hibbard can be reached at 770-399-8108 OR sara.hibbard@metrobrokers.com.