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I am purchasing a townhouse in Atlanta and it qualifies for the $1800 state tax credit. One qualification for this credit is that the home must have been up for sale prior to May 11, 2009. When I file my taxes next year I have to include “ a bona fide listing agreement with a real estate agent or broker licensed in this state… or other appropriate documentation to validate the eligibility of the single-family residence.” I plan to ask my agent for this documentation – is there anything specific I should ask for? I’ve looked over my disclosure statements, purchase agreements, etc and I don’t see anything showing the listing date… is this something that can be pulled from the MLS – or is that just the date it was posted to the MLS?
The listing agent should have execute a contract with the seller that includes an effective date, that is generally not something that is public / shown to buyer as it may have details on compensation to the agent, but I am sure that if GA has this program there must be a way to keep the confidential stuff away from peeping eyes...
I find that very strange, that a benefit to the BUYER's taxes would be qualified entirely by something that the SELLER did, without the BUYER having any part in it.
And a listing agreement is a contract between a SELLER and an AGENT. The BUYER would have no reason to know it, or to have access to it. I find that very strange that a tax credit for a BUYER would even ask for that as documentation. Either the SELLER or the AGENT would have to provide you a copy of it, and the AGENT isn't likely to do so, without the SELLER's written permission.
It might be possible for any agent to print a history on the address. Our "History" screen doesn't show any personal information, just what happened to the listing on what dates. That would show what date it was originally listed. However, I don't know if they would allow that as "appropriate documentation to validate the eligibility of the single-family residence" Maybe that, along with the regular MLS listing that your agent can also print out for you.
It's targeting listings with time on their back. The MLS sheet for all listings shows the listing date. Your agent can pull a copy for you.
Thanks every1 for the responses!
MAM: Some1 else stated that I have to get the MLS listing printed from the Listing Agent... b/c it may not be viewable to other Agents (like the Buyers Agent). Is this so, or is the listing date viewable by all agents on the MLS?
MAM: Some1 else stated that I have to get the MLS listing printed from the Listing Agent... b/c it may not be viewable to other Agents (like the Buyers Agent). Is this so, or is the listing date viewable by all agents on the MLS?
Thanks!!
The listing date is viewable by all members within my MLS. Expiration dates are not disclosed. I suspect this is the way it works in your MLS, too. Give your agent a call.
The listing date on the most recent listing might be there, but if the listing expired and was relisted at any point, the agent might need to know to look at other listings for the original list date. Some agents are that smart, some are not. The wording on the link you provided said it must also STILL be for sale, so you probably would need copies of all the listings, if there's more than one, showing a continuous chain.
The listing is available in the MLS, but your wording said they were asking for the listing AGREEMENT. That would have to come from the listing agent, with the seller's permission, or from the seller.
Since one of the other requirements is that the property has to be bank owned, then the seller is the bank, and the agent probably is used to the request, and know how you can handle it.
I don't understand the issue at all.
The agents should be working together to make this a non-issue.
And it could easily be a contract contingency that the buyer/listing agent would produce a bona fide agreement with an acceptable date.
Jeeze, there could be something private and confidential in the agreement, but that is not very common, is it?
I mean, ours usually include the Sellers' names and contact information, the legal description of the property, the address, total commission, the split, the marketing plan as an addendum, and agent contact information. Along with the necessary legal boilerplate.
There might be something in there about offering to convey personal property, but that is usually just the refrigerator, stove, and maye the washer and dryer.
Buyers' Agent could ask Listing Agent if the listing agreement is available to review.
It is reasonable for the agent to say "I would prefer not to hand it over to you.
It is also reasonable for the Listing agent to say, "Come on down to our office, and I will let you review it to put your client at ease that the requirement for date on market has been met."
Since one of the other requirements is that the property has to be bankowned, then the seller is the bank, and the agent probably is used to the request, and know how you can handle it.
Not true. The credit is available to all single family properties that meet criteria. Bank- owned properties are included . The credit is not however, limited to bank -owned listings.
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