The $8,000 federal tax credit for first-time homebuyers and the $6,500 credit for current
homeowners may be claimed for the purchase of both new and existing homes. However, there are slight
differences between a newly constructed home purchased from a homebuilder and one built by a contractor
for a property owner.
For new homes purchased from a builder, tax credit eligibility is determined by settlement date. To qualify,
the transaction to purchase the property must close on or before April 30, 2010 (or June 30, 2010, as long
as a binding contract is in place by April 30, 2010).
Conversely, in instances where a property owner hires a contractor to construct a home on an existing lot,
the home is considered "purchased" on the date the owner first occupies the house. The eligible occupancy
dates are the same as those listed above.
Find Your Ideal Home With Our Free MLS Search Engine! Germantown Clarksburg Darnestown & More! This is the way to shop for properties! Narrow your search by entering exactly the features you're looking for!
Click Here For Free MLS Access... HomesByRobandJeannie.com
Rob & Jeannie Steward ~ Weichert, Realtors ~ 20400 Observation Dr, Ste 200 ~ Germantown, Maryland 20876 ~ Direct: (301) 213-7351 ~ Office: (301) 540-1330 x267 ~ Fax: (301) 601-0250 ~ E-Mail: Rob.Jeannie@gmail.com ~ www.HomesByRobandJeannie.com ~ We Work Twice As Hard For You!
Comments(0)