Lawrence Terry: Buyer's Guide

Buyer's Guide

Home Buyers Tax Credit

– Extended and Expanded
– Includes both First Time Buyers and Move-up Buyers

First Time Home Buyers Tax Credit $8000 (max)

– Eligibility – Must not have had an interest in a principal residence for 3 years prior to the purchase

– Income Limits – $225,000 – Married, $125,000 – Single

– Deadlines – Purchased home is under contract by April 30th , 2010 and closed by July 1st 2010.

Current Home Owner Buyers Tax Credit $6500 (max)

– Eligibility – Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years

– Income Limits – $225,000 – Married, $125,000 – Single

– Applies to – Purchased home is under contract by April 30th , 2010 and closed by July 1st 2010.

For more information or to talk to an agent contact:

Lawrence Terry
Broker Associate, Realtor ®
919-264-9751 (mobile)
919-877-8825 (office)
LarryTerryRealtor@gmail.com

Buyer's Tips

General Home Buying Tips

– A house is like a box of chocolates you never know what you are going to get until you actually go and see the property

– Set a date as a goal for when you have to make a buying decision

– Know what you can afford

– Establish your housing requirements (i.e. # bedrooms, # baths, garage, etc.)

– Establish you location requirements (i.e. close to schools, close to work, close to church, close to hospitals, etc.)

– Remain positive during the home search process

– Never make up your mind solely from pictures. In Real Estate, seeing is believing

– Last but not least, Everything is Negotiable. So don’t be afraid to ask!

Working with an Agent

Important Things To Note When Working with an Agent

– In North Carolina the form Working with Real Estate Agents must be discussed with and signed by the Buyer at the first contact.

– A Real Estate Agent has fiduciary responsibilities to the buyer only if the buyer and agent have a verbal or written Buyer’s Agency agreement.

– A Buyer’s Agency agreement must be written and signed by the buyer and agent before an offer can be presented to a seller

– Identify no more than 5 properties per showing session and allocate at least 30 minutes per showing. At 30 min per viewing it will take 2.5 hrs to view 5 properties.

– Keep a record of all the homes you view.