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Karen Archambault

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FREE $8000 to first time homebuyers

07-16-09
Karen Archambault
HURRY BEFORE TIME RUNS OUT! First time home buyers be aware that the clock is ticking!!!! If you want to take advantage of the first time home buyers new tax incentive then you have to close before November 30th, 2009! That means you should have the property under agreement by September to be sure you will close in time. HOW DO YOU GET THE MONEY??? If you normally get money back from the IRS come income tax time and your finances haven't changed then this is cash back to you. If you don't want to wait until you file your 2009 income tax then your accountant can file an ammended tax return for your 2008 taxes and the money can be direct deposited to your account. DO YOU QUALIFY AS A FIRST TIME HOMEBUYER??? If you have not owned your primary residence in the last 3 years then you are a first time homebuyer. You can own vacation property, income property or be on the deed to another property as long as it has not been your primary residence for the last 3 years. A FEW DETAILS.... The credit is $8000 or 10% of the sale price, which ever is lower. It can not be a family sale. Multi-family homes may not qualify or may only be a % of the sales price based on the % of the house that will be owner occupied. Call or email me if you need help. Now get out there and find your dream home!!! :) Karen J. Archambault "Karen The Realtor" Century 21 Associates Realty 508-677-3233
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Five Easy Steps To Short Sale Approval

10-24-08
Karen Archambault

Five easy steps to Short Sale Approval

I have been working with short sales and the more we do the more we learn.
We started out trying to send the offer over to the bank for approval before the seller signed and it just wasn't working. The last sales that were approved were done completely different. Here are the five easy steps to short sale approval! :)

Step 1. As soon as you get the listing get the sellers to sign a Third Party Authorization and fax it over to the bank/banks.

Step 2. Present the offer to the Seller and counter-offer to get the best price that you think you can get in this market. Once you feel the price is the best you can get then the Seller accepts the offer and writes in the conditions that it is subject to bank approval, we usually put in the name or names of the banks involved. Don't forget to make sure you have a pre-qualification letter and/or proof of funds from the buyer before you even accept the offer.

Step 3. Draw up the P&S sign by all parties.

Step 4. Gather all of the Sellers financial Information, a Hardship letter, P&S, buyers pre-qualification and/or proof of funds, listing agreement and estimated settlement statement and fax it over to the bank/banks for approval.

Step 5. Close the deal!

Sounds easy right???? We wish it were as easy as it sounds! But honestly even though it is a lot of work and time to get them approved it is working better when we do it this way and the more we do the better we are getting at it.

Karen The Realtor

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