Tax credit expired on April 30th, but the eligible buyers need to close those transactions by June 30 or they will end up losing the tax credit.

It may seem like a long time, but time is closing swiftly, and there are so many numbers of delays that could push it past June 30. “It’s not uncommon to take 75 to 90 days to settle.” Said Timothy M. Dwyer, president of Entitle Direct, a title insurance company.
Delays can happen because of issues in the mortgage approvals, but on the seller’s side can also be any delay. That’s why buyers need to scheduled their time before deadline, all parts involved need to know there’s a tax credit at stake so everyone knows the essence of time.
Buyers also need to know that with the recent decrease on the mortgage rates, it also created an increase on sells, even though the ones with the tax credit have priority.
Also homebuyers need to have all papers and information to give to the lender as quickly as possible when he ask for them, and as Joseph W. Rand, managing partner with Better Homes and Gardens Rand Realty in New City, N.Y., suggested, ask the lender what they need, and in that way you will be prepared to turn whatever is need as soon as is needed.