In the current climate, it’s not unusual for a perfectly normal deal to take 1-2 months to be completed, from start to finish. This means that in order for you to collect your $8,000 tax credit, you should ideally go to contract no later than about October 15, which would give you about a month and a half to get things wrapped up. That won’t happen if you chase a short sale or other distressed property, so remember that as you salivate over the ridiculously low prices that will understandably catch your eye right now.
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Robert G. Yetman, Jr. Editor-At-Large www.ChristianMoney.com