I recently signed up for a new Comcast Cable Modem and ToGO 4G.  It’s so fast at streaming TV I have decided to say good bye Comcast Cable TV Hello Boxee on line TV.

Back to my point how do you as a home owner not miss the best selling time with a bogus offer? We’ll you take a little piece of the short sale addendum allowing the property to stay on the market active because the offer is not binding. You can have multiple offers to buy the seller can accept all in order. The seller accepts an offer in first position and gives them a first offer the right to match the offer. Match what you say Price and ability to close. So there is no binding contract until the buyer shows the ability to close. Make the primary offers earnest money (at least 1% of sales price) non-refundable unless the inspection finds an undisclosed pertinent and substantial fact that affects the value of the home such that it will deter future home buyers, that he seller is unwilling to correct. So not the first offer ready to close force the primary offer to step up and match it or lose their earnest money if they back out. You may want to do 2% that how strongly I believe seller will be take advantage of in this crazy buyer purring in multiple offers. Some buyers will not disclose they have a home to sell. All listing agent should put a Q & A addendum do you own another home. Will you have to sell or rent the home to qualify? Then get a Pre Qualification letter stating the lender knows of this and they buyer qualifies without selling the home.

If you’re an agent or sell take this to heart it will be happening making offer on multiple property. It’s probably unethical if you don’t disclose it to the seller but agent think they can just put in contingency that will allow the buyer to back out. Like financing oh they can’t buy 2 home so they don’t qualify. Right we need to hold this kind of activity accountable but how?

Utah Legislature has used the last 1/3 of the Utah People TARP funds, allocated to the state of Utah, for New Construction Home Buyers Grant. I guess they had to give the development companies more assistant to sell their overpriced, new construction home!!!! There are a lot of programs that really would have benefited home buyer a lot more if the legislator really wanted to stimulate the real estate recovery in Utah. Like why doesn’t Utah have a, loan of the first time home buyers tax credit, so they can use it for their down payment? HUD has approved this and Utah housing, the administrator of the Home Run Grant, is really the only entity in Utah that could do it and their answer to me when I ask them why it wasn’t being provided as a program? Was they didn’t have any Money to do these loans! So why didn’t the legislator allocate the fund for this up front loan of the $8,000 first time home buyers Tax credit I don’t know?  Were creating our own Home Buying Program the Realty As Is Grand Slam Rebate 1/2 of Our the Buyers Agent Commission.   An Home Any Price Any Use Just buy with us.  Short Sales Bank Owned Tax Credit Utah Housing Loans we Just want you to get a home and a real incentive!!!

The reason why many home buyers don’t buy now FHA requires a 3.5% down payment from their own fund or a gift form a blood relative. HUD did away with 100% purchase gifting down payment plans and raised the down payment requirement form 3 to 3.5% in the last tax credit for first time home buyer legislation. Sure Utah Housing has a 106 % program but the rate is 1% higher on the 97% first mortgage and 2% on the 6% 2^nd mortgage above the going FHA Rate. People what to buy a home with no money down and have a 5% 30 year rate that is it. Is that right or wrong I don’t know but it is real and that is what we’re about on this blog, Reality! We had the opportunity to do that and use that money from the Tarp to fund a real first time home buyers program and we didn’t. So instead what we have done is give the home builder more incentive to build home that we don’t need. We’ll I don’t get! We have thousands of short sale on the MLS in Salt Lake County and only a few hundred existing new construction homes that are complete and ready for home owners to buy. People are trying to sell their home and avoid foreclosure and the public wants to buy these homes and no help from Utah! I see this is a way to line home builder pockets so they can sell there over priced inventory and we pay for it, it’s a real sucker punch to the Utah people. I’m not even sure how well this will go over. Why buy a new home $15,000 to $50,000 overpriced to get a $4,000 Grant.  I’m sure Miss Utah and the home builders will be advertising the Heck out of it.

We’ll I have a grant for you home buyers!

I will give you a free grant of ½ of my buyers commission so on a $250,000 shot sale that is $3,750 free money and you can buy a existing home or a new construction no income limit, investment or primary residence. How is that for a grant? I’m calling it the Grand Slam Home Run Grant!

Listing details of the home Lets look at how it works compared to the home Run. You can buy a listing like my short sale in West Jordan. You could offer $275,000 with seller paying $8,000 in closing costs and you would get a rebate of $4,200 on my Grand Slam Home Run program. If your would rather than buy the same home in the same development from Ivory who built this one for $350,000 and get a $4,000 Home Run grant rather then get my Grand Slam grant form me you can! Here is what you would get each way.

Grand Slam Rebate

1. Get a FHA 5% fixed 30 year going rate and have all your closing costs paid and help out a short seller.
   
2. You get the home for $275,000 not $350,000 so you have $75,000 less in loan @ 5% your saving is $402 a month or $4,831 a year in payment!
   
3. You’ll have equity in your home from the start as opposed to being upside down.
   
4. You home payment will be P % I $1,476 as opposed to $1,878 Wow.
   
5. You get a cash rebate of $4,200 after closing. Spends it on whatever you want, probably the back yard on this home!
   

Who is Eligible for the RealtyAsIs.com Grand Slam Grant!!!

• Every one that buys from me as their realtor.
  

Home Run

1. You get a home buying grant of $4,000.
   
2. You get to be the first to live in your home.
   
3. You may get to pick the carper and paint form a few choices the builder gives you.
   
4. You get to say you built the home?
   
5. You P& I payment is $1,878you have to pay your own closing cost or add them on top and use your grant.
   

It you really want to see the details on the Utah Home Run Grant hear your go.

The Home Run Grant FAQ Home Run Program PDF Link

Eligible Listed Property Link

Who is eligible to receive a $4,000 Home Run 2 Grant?

• Home buyers (any person taking title) must meet the following income restrictions:
  

  • Single person, maximum income, $75,000

    Married couple, maximum income, $150,000

  • If more than one unmarried person is taking title to the Eligible Home, each such single person is subject to the $75,000 income limit.
  • Income calculations will be determined by the Adjusted Gross Income as verified by the Approved Lender using the 2008 IRS Federal Income Tax transcript obtained directly from IRS or from an authorized third-party vendor.
  • Home buyers must occupy the purchased home as a primary, permanent residence.
• If home buyers need a mortgage loan to purchase the home, the loan must be a fixed interest rate, amortizing mortgage loan with a term of 30 years or less.
• The Home Run 2 Grant Program is effective only for home purchases closed after a Home Run 2 Grant Commitment has been issued for that specific transaction. The grant funds may not be issued for homes purchased prior to obtaining the Home Run 2 Grant Commitment and may not be used by Home buyers who received the $6,000 grant under the previous Home Run Grant Program.

Who is a first time home buyer? People that haven’t owned a home in the last 3 years. Married couples I’m sorry if you spouse has owned one but you have not you don’t qualify. Even if you got divorced and gave the spouse the home if your name was on a home as an owner you don’t qualify. If you co-signed for a home you’re on as an owner and you don’t qualify. If you don’t have the income and you need a non-occupying co-borrower that’s Ok you do qualify for the credit because the credit can be split or moved around to any qualifying buyer of a home. You can have a Mom, Dad or Grandparent co-sign on a FHA loan and as long as your not married to them it all good. You don’t even have to have a job to qualify for an FHA loan as long as your co-borrower is well qualified.

Can my down payment come for the Tax credit? No in Utah we don’t have a program to loan you the tax credit so you can use it for your down payment. You can borrow form a 401 K or get a gift form a blood relative and use the Tax credit to pay back the person. No gifts can be required to be paid back but nothing says you can pay them back. So how do you buy a home with no money down; we’ll if you qualify you can do a Utah Housing Loan. How do you qualify you don’t make more than the limit. Salt Lake is $64,000 family income up to 2 people in the family. Sure the rate is 5.7% but that’s not too bad.

How do you get the tax credit? We’ll you fine an amended tax return and have it in a few of weeks. Actually I have seen on line from 4 to 16 weeks. I don’t know way some take so long. It might ne shorter now that was for May and June of 2009.

So let’s get you out and shopping for a new home this month. For the month of august I will give you ½ of my commission back as a rebate if allowed by your lender

How do you get more of a Tax Credit we’ll we at Spotted Home have put our own stimulus Package together to give you a Rebate. We’ll give you 1/2 of our commission or on a 3% buyer agent commission you get 1.5% of the sales price as a gift. We won’t even make you qualify as a first time home buyer. So buy a $200,000 home with the 3% Buyer Agent Commission and you get $3,000 as a thank you. State administrative code 6.2.12 allows me to give you a gift for buying with me. As long as your lender says it is ok. The minimum commission the company can earn is 1.5% of the sale price so if the commission is 2.0% you would receive 1% of our commission as a gift. Wow now that a stimulus package.

6.2.12. Gifts and Inducements. A gift given by a principal broker to a buyer or seller, lessor or lessee, in a real estate transaction as an inducement to use the services of a real estate brokerage, or in appreciation for having used the services of a brokerage, is permissible and is not an illegal sharing of commission. If an inducement is to be offered to a buyer or seller, lessor or lessee, who will not be obligated to pay a real estate commission in a transaction, the principal broker must notify the party who will pay the commission that the inducement will be offered. This rule does not authorize a principal broker to give any type of inducement that would violate the underwriting guidelines that apply to the loan for which a borrower has applied.

First time home buyer don’t wait until the last month get out while the shopping is good and you may be able to get a short sale if you have a great agent like me.

More info on the First time home buyer Tax credit of 2009