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Clock Running Down on First-Time Home Buyer Tax Credit
With the clock running down on the $8,000 tax credit for first-time home buyers and less than four months to go, builders are urging qualified prospective buyers to start the sales process long before the Nov. 30 deadline.
Faulty appraisals that have been using foreclosed properties as comparables for new homes have been slowing down the sales process in many instances, builders warn, creating hiccups in the financing stage that can often push the closing date much later than originally expected.
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