That's right, if you want to take advantage of the First Time Buyer Tax Credit or the Move Up Buyer Tax Credit you must have a home under contract by April 30th, 2010. If you were hoping to take advantage of this and you haven't started looking for homes yet, you better contact a REALTOR a.s.a.p. and start your home search!
A Few Highlights about the Tax Credit
- First Time Buyers can get a tax credit of 10% of the sales price up to $8,000
- Move Up / Repeat Home Buyers can get a tax credit of 10% of the sales price up to $6,500
- You must have a binding sales contract on a home by April 30, 2010
- You must close on that contract by June 30, 2010
I personally do not think this tax credit is going to be extended like it was last November.
Check out Home Buyer Tax Credit for more info and faq's.
If you'd like to start looking for homes and take advantage of this buyers market in S.E. Michigan sign up for a free Listingbook account and search the mls on your own personal website! Absolutely FREE!
Mike Mitchell - REALTOR ®
GMAC The Kee Group
Direct: (586)291-2652
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