What if my sale is closing late? Can I still receive a tax credit?

Real Estate Agent with Windermere Real Estate/M2, LLC

First time tax credit buyer entered a purchase agreement several weeks ago, intending to close by November 30 to take advantage of the first tax credit program. Closing will not happen by November 30, but should happen in December. Do buyer and seller need to rewrite their purchase agreement to reflect a different date or do anything else to allow buyer to take advantage of the extended tax credit program?

...The preceding is an opinion from Annie Fitzsimmons, the attorney who answers questions for the Washington Association of REALTORS® Legal Hotline. For additional questions or information, please contact Jen at (206) 293-1005 or send me an email to jen@jenhudsonhomes.com.



Thought this was interesting & want to continue reading? The rest of this article can be found at http://jenhudsonhomes.com/blog/archives/1000. If you would like to learn more about real estate in general, visit my website at www.jenhudsonhomes.com.

Jen Hudson
206-293-1005 cell
360-652-1200 office
CCIM Candidate, CDPE, GRI, Realtor
Windermere Real Estate/M2, LLC
Want to learn more about real estate? Visit my website at www.jenhudsonhomes.com

Comments (2)

Charlie Arthur, CCIM
RE/MAX FIRST, INC. - Port Townsend, WA

Nice and informative.  If you ever need a real estate agent in East Jefferson County, Wa; Port Townsend, Port Ludlow. Give me  call.  I love referrals.

Nov 29, 2009 06:23 AM
Epcon Communities Epcon Columbia
Epcon Columbia, SC - Columbia, SC

I believe it is an extension of the existing credit and nothing needs to be done; but consult a tax professional to be sure as I am not one.

Nov 29, 2009 06:31 AM