April 30th is approaching fast, and those who want to get their first time homebuyers tax credit are feeling the pressure of the tax credit deadline. This countdown is to illustrate how you can get your Stephenville home purchased in time.
March 29th – Plan for a few days taken up with negotiations and agreeing on the right price for the right home.
April 1st – Once under contract, start home appraisals and inspections. You need to allow time for any issues which might arise and for your lender to approve the loan. Bear in mind that the Easter holiday may mean some people are unavailable, which would add extra time.
April 12th – Assess the estimate from your lender. Review closing costs and escrow to have the correct money available.
April 26th – Ensure your lender has started the appraisal process. They can need up to a month, and by April 30th you must be under contract.
May 3rd – Prepare the escrow and down payment. Confirm the bank account for the wire transfer or cashier’s check. At closing you need cash.
May 17th – Make your closing appointment at your title company. Make this well in advance for some time this week.
May 31st – Once the appraisal is complete, check changes in loan terms and be prepared for any increases in the down payment. You can ask lenders for a “desk review,” which is another more comprehensive evaluation. It can incur extra cost but will save time.
June 1st – Once the purchase is in order, start planning your move and organizing utility transfers.
If you have any questions about Stephenville homes and Erath County homes, please contact us. It would be our pleasure to assist you with your home journey.