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I'm currently awaiting appraisal to come back (supposed to have a number today), and I can say that if something goes way out of whack and I can't get this deal done before 11/30, I will likely walk away if they don't extend the credit.
Maybe what they should do is, rather than extending it entirely through 2010 even with a phase out, put a provision in that says if you sign a contract before 12/31/09 AND if you close within x months of the signed contract, you get the credit.
Here is some new info on the tax credit:
@Anonymous wrote:
I wonder.... I do know that now that the "Cash for Clunkers" for cars program is over, car sales have gone way down...
We are canibalizing future buyers today.
It is a short term fix and NOT the answer.
The car business did it to themselves with employee pricing. Was a disaster