The senate did vote and pass an extension on when closings must occur for those buyers that qualify for the Homebuyer Tax Credit. The senate voted to extend the deadline to September 30, 2010.
Note - this still must be approved by the House and it still must be signed into law by the President. Thus the deadline as of this moment is still June 30th. The extension is actually part of a larger bill so there are still some obstacles to overcome.
Still, the good news is action is being taken towards getting an extension in place. It should be noted that the extension is only on when these deals must close by. Only those purchasers who had contracts ratified by April 30th qualify.
If you are looking to buy or sell a home in the Prince William, Fairfax, or Arlington County area contact Stacy at stacy@stacymagid.com or call us me(571) 357-2748. Put my record of great customer service and experience to work for you.
Stacy Magid
REALTOR®
USAA MoversAdvantage Preferred Agent
Century 21 New Millennium
12581 Milstead Way Suite #400
Woodbridge VA 22192
703-599-5337 (cell)
540-658-2185 (fax)
www.princewilliamhomesales.com
stacy@stacymagid.com
PWAR Top Producing Team
Short Sale & Foreclosure Resource Specialist
Licensed in the Commonwealth of Virginia
;)
;)
;)
The current measure is to enable those short sale contracts that are already in place an opportunity to obtain approval (since the process tends to be much longer with short sales) and reach closing before the "extended" maturity date. No new contracts can be entered into the system however.
Royce Vanderpool, REOS, Principal Broker : Devan Realty and Development Corporation