For those of you thinking of buying a house (and, from the silence on my phone lately, I don’t think that is too many of you), be aware that the $8,000 tax credit on home purchases expires at the end of this month. That means that in order to avail yourself of this money, you will need to enter into a Contract of Sale by April 30th. So, if you are in the housing market and have been narrowing down your search, the next week or two will be a good time to make an offer. In addition, you will need to close on the purchase by June 30th. Since the mortgage process is taking 6-8 weeks lately that is not a lot of time between contract and close. As a result, make sure that you apply for your mortgage as soon as your contract is signed.
Get Your Tax Credits While They’Re Hot