Recently I have been getting calls from friends and clients all over the US. They are concerned about a specific real estate company advertising that their company has extended the $8,000 home buyer tax credit. While they may be able to get you that $8,000 credit toward your closing costs, let us be very very clear.. They did not get the TAX credit extended.
Here is how it works; buyers have always been able to ask for closing costs. You could always ask for the seller to credit you $8,000. The deceptive company is calling a tax credit (with implies money from the government) is still available. It is not unless you are already in contract. What is available and has always been are seller credits (money from the seller). My point… don’t be mislead. You can always ask for a credit, but the seller may say no. Unlike the government, sellers aren’t necessarily going to give up that money that easy. Also a good thing to remember in real estate transactions is that sellers and buyers can not exchange funds out of escrow. Simply put they can credit you money (take it off the purchase price) but they cannot write you a check for $8,000.
Erin Goodwin
RE/MAX Mutual Realty
www.SusandErin.com
May 18, 2010 at 2:01 pm |
tank you,for yuor info.