First-time buyer tips for smooth closing

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Just when the party is beginning to show signs of life, do you take away the only punch bowl? Even though first-time homebuyers are driving the housing market, there has been little energy in the nation's capital to extend the $8,000 tax credit beyond the Nov. 30 deadline. That doesn't mean that some of the more influential trade organizations in this country have stopped trying to convince legislators that the first-time incentive is key to sustaining any semblance of housing momentum. Representatives from the National Association of Home Builders, along with the National Association of Realtors, believe the tax credit is critical to their members. October is already here. If a first-time homebuyer did find a home in time to beat the deadline, how much time would be needed to close the deal? Most lenders say they need a minimum of 30 days to close a loan and many will not guarantee that everything will be wrapped up by Nov. 30. Just to be safe, it's best to get started as ...