Were you in line to take advantage of the $8000 or $6500 Home Buyer Tax Credit, met the requirement of having a signed sales contract by April 30, 2010, but UNABLE TO CLOSE BY JUNE 30, 20100? You are in luck!
By unanimous consent, Congress has sent President Obama a plan to give home buyers an extra three months to complete their transaction and qualify for the federal tax credit.
By unanimous consent, Congress has sent President Obama a plan to give home buyers an extra three months to complete their transaction and qualify for the federal tax credit.
OLD RULES:
- Signed sales contract by April 30, 2010
- You must be either a first time buyer or a repeat buyer with certain qualifications.
- You must complete the sale by June 30, 2010.
NEW RULES:
- You must have a signed sales agreement which was dated on or before April 30, 2010.
- You must be either a first-time buyer or a repeat buyer with certain qualifications.
- You now have until September 30, 2010 to close on your sale.
Do you know that if you are a service man or woman or a government employee stationed out of the country, the entire program is extended for you to April 30, 2011 and June 30, 2011, respectively? Perhaps you know someone who meets these qualifications -- pay it forward and pass this information on.
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