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Wendy McNeil
 
Wendy McNeil

Buying Services for Memphis Home Buyers

 
Congratulations!  You have decided to purchase a home, or are thinking about buying one.  You'll be joining the ranks of hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family.  When you own your own home, your hard-earned dollars contribute to your mortgage. The equity you earn is yours.  Over time, your home will increase in value.

In the following reports, you'll find the information you need to make a wise buying decision.  We'll take you through the planning process step-by-step , to help you determine which home is right for you.  You'll find a host of informative articles on mortgages, viewing homes, the offer, closing details and moving.

Please contact me if you have any questions about buying a home in Memphis or elsewhere in Tennessee.


Below, select desired reports and complete the form provided.


Buying Your First Home

Many renters are starting to think about purchasing a home of their own. This article highlights several factors that should be considered when purchasing a home.

The Right Home at the Right Price

This article helps you become a savvy buyer, by pointing out some of the pitfalls inherent in the home-buying process.

Avoid Common Buyer Errors

Some buyers, however, caught up in the excitement of buying a new home tend to overlook some items. When you have a systematic plan before you shop, you’ll be sure to avoid these costly errors. Here are some tips on making the most of your home purchase.

But Do You Need It

Buying a home can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible.


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$8000.00 TAX CREDIT for First Time Home Buyer

 

*Amount of Credit
Lesser of 10 percent of the purchase price of the home or $8,000.

*Date of Purchase
To qualify, the home purchase must have been made and closed between January 1, 2009, and December 1, 2009

*Eligible Property
Any single-family residence (including condos, co-ops and townhouses)
that will be used as a principal residence

*Refundable
Yes - the credit reduces (or eliminates) income tax liability for the year of the purchase. Any remaining amount of credit is returned to the buyer as a tax refund. (The tax credit is claimed after the purchase is made when filing your tax return - you do not receive money at closing.)

*Income Limits
Full amount of credit available to individuals with an adjusted gross income of $75,000 or less ($150,000 for joint filers). The amount of the credit is phased out for those with incomes above $75,000 but below $95,000 (above $150,000 but below $170,000 for joint filers).

*Who is a First-Time Buyer?
For this credit, a first-time buyer is considered someone who has not had any ownership interest in a home during the three years prior to the purchase in 2009.

*Repayment
The credit does not have to be repaid unless the home is sold within three years of purchase.
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