As reported by CNN/Money.com late last night; the Senate has passed the extension to qualify for the tax credit to September 30th. This is only for contracts that have already met the April 30th acceptance deadline. This applies to both the $8,000 first time buyer and the $6,500 repeat buyer contracts.
Reports are there are as much as 200,000 pending contracts that didn't get closed by yesterday that now have an extra 90 days to get officially closed.
Bill Swanson is an agent with CBSHOME Real Estate in Omaha, NE with over 20 years experience helping people with their real estate needs.
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