If we do not close by April 30th will we miss out on the home buying tax credit?
By admin - Last updated: Wednesday, April 14, 2010 - Save & Share - Leave a Comment
Real estate agents, buyers and sellers need to be aware that the first time and long time owner tax credit is scheduled to end on April 30, 2010. Does this mean that a qualified buyer must close on the home they are purchasing by April 30th or lose out on the tax credit?
No, the guidelines state that the home buyer must be under contract with a home seller by April 30th and have until June 30, 2010 to close. There are exceptions to this guideline for members of the military.
Even with the extra time to close, time is running out for getting a contract on a home in order to take advantage of the tax credit. If you plan on buying a home give me a call 407-304-0255 and I will have an agent in your area contact you today.