Immediately after hearing the news of the senate’s intention to extend the closing date of the expiring home buyer tax credit from June 30, 2010 to September 30, 2010, njretoday.com, received an flood of emails from angry buyers who were in the market back in April 2010, but through no fault of their own, were unable to get under contract. “It just isn’t fair,” said one NJ Home Buyer. “I was in the market for six months and it just so happens that I finally found the house that I wanted buy after April 30th. Man, that sucks. I hope NJ passes the income tax credit. That would be a tremendous help to me.”
The Senate has amended HR 4213, the “American Jobs and Closing Tax Loopholes Act of 2010″ to give home-buyers who were under contract on a home purchase by April 30, 2010 an additional three months to close the deal and claim the federal home-buyer tax credit. The bill has yet to be signed into law.
Realtors have reported that as many as one-third of qualified applicants have been told by lenders that their loans will not close before June 30 because of the sheer volume of loan applications in the pipeline. “Since these applications were already in the pipeline and figured into the program’s cost, the extension of the closing deadline should not incur any further government costs,” NAR President Vicki Cox Golder.
In consideration of such an extension, the Senate warns that they are heavy fines for home buyers thinking of backdating documents or submitting fraudulent claims.
Angie Perez is a NJ Circle of Excellence award winning real estate agent for Weichert, Realtors in Edison. She sells anywhere from 12-25 houses per year on a consistent basis since 2005. Ms. Perez is primarily a buyer's agent on 60% of her real estate sales where she represents rental income investors, first time home buyers & trade up home buyers of 1-4 family homes within specific towns encompassing 4 NJ counties: Union, Essex, Middlesex and Somerset County. Many of Ms. Perez's clients appreciate her ability to negotiate favorable real estate deals for them. Many of her clients commented that her research abilities, her honesty, her knowledge of local market trends and her proficiency to manage multiple real estate transactions from start to close are some of the reasons why she was hired as their agent of choice. Please call, text or email Angie Perez to ask if she lists or sell in your town. If she can not help you, Ms. Perez would be more than happy to help or refer you to someone who can. Cell: 973-715-6210 email: angie @ njretoday .com
123 Lincoln Highway Edison, NJ, 08852 USA
angie@njretoday.com • (973-715-6210)
