• To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
  • The tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.
  • The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
  • The tax credit applies only to homes priced at $800,000 or less.
  • The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.
  • Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
 
Posted by David Van Noy, Jr. on 01/06/2010 02:12 AM   Comments (1)  
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David Van Noy, Jr. (Reece & Nichols Realtors)

David Van Noy, Jr.

Leawood, KS

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Reece & Nichols Realtors

Address: 11500 Granada Lance, Leawood , KS, 66211

Office Phone: (913) 259-4663

Cell Phone: (816) 536-7653

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David Van Noy Jr. has made a commitment to his BLOGS just like his radio show and his daily commitment to excellence in selling real estate. "We run this place like a business, and just like a job that needs to be completed we will provide prompt and accurate information about the real estate market conditions and respond to any questions you have immediately."


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