Comments on: $8000 Tax Credit and Short Sales http://www.minnesotainvestmentrealestate.com/buying-property/8000-tax-credit-and-short-sales/ How to find, buy, and own investment property. Tue, 07 Feb 2012 17:08:43 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Scott Ficek http://www.minnesotainvestmentrealestate.com/buying-property/8000-tax-credit-and-short-sales/comment-page-1/#comment-1996 Scott Ficek Tue, 18 May 2010 04:37:39 +0000 http://www.minnesotainvestmentrealestate.com/?p=1573#comment-1996 Wow. Not sure on that one. You had a signed contract so it was fully executed before the deadline. I suspect you are OK, but you should check with your accountant. Wow. Not sure on that one.

You had a signed contract so it was fully executed before the deadline. I suspect you are OK, but you should check with your accountant.

]]> By: Elizabeth http://www.minnesotainvestmentrealestate.com/buying-property/8000-tax-credit-and-short-sales/comment-page-1/#comment-1995 Elizabeth Tue, 18 May 2010 02:26:22 +0000 http://www.minnesotainvestmentrealestate.com/?p=1573#comment-1995 I have a random "what-if" question for you: Prior to April 30th, I put out an offer on a short sale, and had the seller sign the offer around March 28th. It was then sent to the lender for approval. Technically, I am still "in contract". Even though the lender didn't come back with their approval until after the 30th, (more like May 12th) my contract DID HAVE the lender's approval as a contingency to the original contract. However - my question is this: the lender came back asking for about 4,000 higher than our offer. We agreed (we love the house and its still a great deal) - does this change the original contract - the one that the seller first signed in March? Can it cancel the tax credit due to a "change" in the contract? All I get are "hopeful" answers from my mortgage and real estate agent. I was hoping you could shed light on it. I was excited to see that my agent did right on the contingency, but I'm still worried about the offer change. Regardless, we should close the first week of June. It would just be nice to know 8k is still a possibility. Thanks! I have a random “what-if” question for you:

Prior to April 30th, I put out an offer on a short sale, and had the seller sign the offer around March 28th. It was then sent to the lender for approval. Technically, I am still “in contract”. Even though the lender didn’t come back with their approval until after the 30th, (more like May 12th) my contract DID HAVE the lender’s approval as a contingency to the original contract.

However – my question is this: the lender came back asking for about 4,000 higher than our offer. We agreed (we love the house and its still a great deal) – does this change the original contract – the one that the seller first signed in March? Can it cancel the tax credit due to a “change” in the contract? All I get are “hopeful” answers from my mortgage and real estate agent. I was hoping you could shed light on it. I was excited to see that my agent did right on the contingency, but I’m still worried about the offer change. Regardless, we should close the first week of June. It would just be nice to know 8k is still a possibility. Thanks!

]]> By: mn mls http://www.minnesotainvestmentrealestate.com/buying-property/8000-tax-credit-and-short-sales/comment-page-1/#comment-1942 mn mls Sun, 28 Mar 2010 19:05:56 +0000 http://www.minnesotainvestmentrealestate.com/?p=1573#comment-1942 We have had a lot of questions in regards to this. Time is really running out for buyers though if they plan on offering on a short sale and closing before June 30th. Will be interesting however to see if the HAFA program speeds the process up. Thanks! We have had a lot of questions in regards to this. Time is really running out for buyers though if they plan on offering on a short sale and closing before June 30th. Will be interesting however to see if the HAFA program speeds the process up. Thanks!

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