Can a Buyer Still Qualify For The Tax Credits If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Be Sure To Live In The Home For 3 Years or More... Here is why that benefits you....
The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.
Be sure that you know the rules of this newest tax credit! Call your tax accountant or the IRS for details!
To get started on the home buying or selling process, contact a real estate professional like myself who can guide you through to closing on a home. Call Tom Davis at: (302)398-3757
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