Are you thinking about Buying a Home? Using the $8000 Tax Credit the timeline is approaching.
When Time is of the Essence, we know that is a legalese term that most Realtors® adhere to but do not use much. What does it mean? According to a legalese website... I found this as the meaning.
A phrase in a contract that means that performance by one party at or within the period specified in the contract is necessary to enable that party to require performance by the other party.
Failure to act within the time required constitutes a breach of the contract. The general rule is that time is not of the essence unless the contract expressly so provides. As a result, with respect to real estate transactions, the modern view is that time is not of the essence unless the parties have manifested such an intent. The same is generally true in construction contracts and in contracts relating to the manufacture of goods. When time is not of the essence, courts generally permit parties to perform their obligations within a reasonable time.
West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
So that pretty much sums up what I thought, it means
in order to get what you want you must adhere to the TIMELINE set forth in the beginning. Now what does a blog post have to do with this term? Looking at it from the $8000 Tax Credit for First Time Homebuyers.. it means the time line is fast approaching when you will not benefit from this Tax Credit.
It is now August 1,2009. Yesterday I heard a lender say, we need at least 45 days to process and close a loan. That brings the date to September 15, 2009.. IF YOU WERE UNDER CONTRACT TODAY. So back that up a bit and say 3 weeks to find and decide on a home, and negotitate the contract. So now we are at mid October. Perfect if you are ready to buy now. IF you are thinking about buying, I would get it done.
The final date for closing and funding and transferring title of the new home to you is NOVEMBER 30, 2009.
Will the G
overnment allow late closers to take the $8000 Tax Credit? I do not know. Right now I would tell you the current IRS website says the deal has to be done and over by November 30, 2009. I would not want to bet anyones $8000 on any other date.
If you need help with your Real Estate Goals here in Austin Texas, Buda, Dripping Springs or Kyle, call me and I can help you. Gail Tassey, Realtor®, 512-217-9482 or visit my web site to begin your search. http://austincomeshome.com
When Time is of the Essence, are you thinking about Buying a Home? $8000 Tax Credit
4 comments • Shirley Parks, REALTOR® - SRES • August 04 2009 08:50PM~Bada Bing Pizzeria~
Recently I met a lady named Flo who told me she had opened a New York pizzeria here in San Antonio on San Pedro near Ramsey. Intrigued by the name of the place, Bada Bing, and the persona of it's Italian owner, I told her my husband and I would stop in sometime. The New York/New Jersey Italian culture is one that I am only familiar with by what I see on TV or in the movies and I like trying out different ethnic foods so I looked forward to a visit.
Last Sunday we stopped in with the intent on my part of having a salad and my husband having whatever he wanted. It turns out Bada Bing is closed on Sunday but our warm and friendly hostess insisted we be served anyway. She presented us with an Italian sub that made me forget all about a salad. Flo's husband, Rick, made a wonderful pizza for my husband. The pizza was really good with the meat, veggies, and tons on cheese atop a thin and crispy crust. Another realtor, a friend of Flo's, came in and invited me to a networking event being held there on Tuesday.
We liked Bada Bing so much that our daughter and grandkids took us back for my husband's birthday lunch the following Tuesday. We finished lunch and I stayed for the networking event and met lots of new people.
This mom-and-pop type restaurant serves more than pizza and subs. Salads, calzones, stromboli, lasagna and more are on the menu. The menu varies somewhat by day and time. The decor is not fancy but the prices are very reasonable and the food quality is very good. They also do take-out and delivery. They are closed on Sunday but if you stop by and the door is open, they will serve you. And they will make you feel right at home!
Check out their menu: http://www.myspace.com/badabingpizzeria
That's Flo on the left:
19 comments • Shirley Parks, REALTOR® - SRES • August 02 2009 12:22AMContent © 2009 'Frequent Contributors'. Design © 2009 ActiveRain Corp.
Logos and service marks owned by copyright holder.