10 Steps to Buying a Home 

See 2009 Home Buyer Tax Credit Info Below This Section!

1. Choose a full time, experienced Realtor who is knowledgeable about home values in your area.

2. Ask your Realtor for a Lender referral or work with a reputable local Lender to find out not only what price range you qualify for, but what monthly payment you are comfortable with.

3. Meet with your Realtor and go over the questionnaire to be sure that your Agent is completely clear on what is most important to you regarding the search criteria for your new home.

4. Choose a Realtor who will show you homes that meet that search criteria as well as the price that you are comfortable buying at. An Agent should never show you homes that are well over your comfortable price range. There is no way to know if the Seller can or will sell the home for less than asking price.

5. When you choose a home to make an offer on, your Agent should provide you with a market analysis that will help you in understanding the best price to offer on the home, based on current sales in the neighborhood.

6. Your agent will present the offer to the Sellers Agent and manage the negotiating process.

7. Once the offer is accepted, there will many dates and deadlines that have to be met within the contract. One of the main ones is the Inspection Deadline. Your Agent should be able to recommend a reputable Inspector to take you through the home and inspect all appliances, utilities, mechanical and structural items of the home to be sure they are all in good working order. If there is an issue that needs to be repaired, your Agent will write up what is called an Inspection Resolution form. The Seller then has to decide whether they will correct the item, offer a credit for repair or decline the repair.

8. You will also need to contact an Insurance Agent to get homeowners insurance on the property.

9. Your Lender will order an appraisal of the property.

10. Finally, your Lender will provide final loan commitment and both the Seller, Buyer, Real Estate Agents, and Lender will meet at the Title Company to sign all of the pertinent documents and you will get the keys to YOUR NEW HOME!


2009 Home Buyer Tax Credit Summary   

• WHO QUALIFIES: The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-  time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.

• REPAYMENT: The tax credit does not have to be repaid if the Buyers own the home for at least 3 years. If they sell the home before then, they will have to return the credit to the government. (Exceptions may be made in certain cases, such as death or divorce.)

• CREDIT AMOUNT: The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.

• 2009 BUYERS ONLY: The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

• INCOME LIMITS: Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.


With mortgage rates as low as 4%, large amounts of inventory at all price points, and this fantastic tax credit, now is the time to BUY!

If you are not in the market for a home, who do you know that is interested in purchasing a new home and taking advantage of this great Buyer’s market?


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