When most people think of the $8,000 tax credit for first time home buyers, they often just think the first time home buyer is the one that benefits from the tax credit, but there is a lot more to the story!

For example, take the sale of my first time home buyer at Timber Ridge. He purchased a condo, then the condo seller bought a home, which enabled the owners of that home to purchase a brand new house that was under construction. For those who think the tax credit only benefits the new buyer, think again! There were 3 houses that exchanged hands because of the 1st time home buyer, so I’d say there were a lot of people who benefited, not just the one. There were also mortgage brokers, attorneys, title companies, home inspectors, appraisers, and Realtors who benefited. My part of the sale representing a new buyer was the pivotal point in the transactions and that made everyone nervous except me. There were a lot of moving parts which means there were a lot of things that could have gone wrong at any time along the way. At the end of the day it was successful because everyone involved, agents and the owners worked together, kept lines of communication open, and stayed on top of everything through the entire process.

For first time home buyers interested in taking advantage of the $8,000 tax credit, you need to start looking now! I can give you names and references of those who are glad they took the plunge if you have any doubts. The tax $8,000 tax credit has been extended so use it. If you are a new buyer looking for a home, condo, or co-op, let’s start looking now!

Posted By: Sonja Lovas