We’re now in the final week of the federal home buyer tax credit, which enabled millions of home buyers to receive a credit of up to $8,000 following their home purchase. It’s been heart-warming to see this credit help and encourage so many people on their path toward home ownership. To keep momentum alive, Coldwell Banker today announced the launch of a Buyer Bonus Sales Event.
Starting May 1, 2010, home sellers participating in the Coldwell Banker Buyer Bonus Sales Event will offer a credit of 3 percent (up to $8,000), when part of an accepted offer, of their home’s purchase price to buyers who sign a contract before July 31, 2010.
Why are we doing this? We heard from over 1,700 of our agents and brokers and nearly half told us that they’d worked with buyers who would have missed out on the tax credit in November of last year had it not been extended. Additionally, 28 percent told us that the current tax credit is the primary reason their customers are currently searching for a home.
So the federal government did its part, and now we’ve come up with a private sector solution, which will bring in a new audience of buyers and encourage those who haven’t yet found a home to keep looking. To find participating homes, buyers can simply check a box on coldwellbanker.com during a home search for “Buyer Bonus Sales Event” to find participating properties nearby.
And if you have a moment, I think you will like the video we had fun making about just how far $8,000 will go (hint: you can get a lot of milk with it)! Click here or watch below and tell me what you think.