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Form 5405 is worth $8,000

By Cindy Marchant

Real Estate Agent with Keller Williams Indy NE 317-290-7775 www.marchantteam.com

January 27, 2011 11:41 PM

I just got an email from one of my first time buyers for 2010 asking what form they needed to fill out to get their $8,000. They bought their first home in the Fishers Real Estate area! That seems like so LONG ago when we were all writing about the First Time Homebuyer Tax Credit.

As we all begin to prepare our documents for 2010 taxes, it’s a great time to “touch” our first time buyers from 2010 and remind them about the $8,000! Form 5405 is the one they will need to fill out.

This is also the form that those who received the $7,500 interest free loan will use to begin to pay back the monies.

Tax time…argh…time for me to start pulling my documents together too!

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Art Hademan

Century 21 Real Estate Center - Mount Vernon, WA

Cindy,

I sold a home last year to an IRS agent.

She had no problem finding and mailing the right form!!!

Jan 27, 2011 11:50 PM

Ginny Gorman

RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI

Homes for Sale in Southern RI and beyond

Cindy, a great reminder on the form # which i had memorized but escaped me until you put it down on your post...many thanks

Jan 27, 2011 11:51 PM

Missy Caulk

Missy Caulk TEAM - Ann Arbor, MI

Savvy Realtor - Ann Arbor Real Estate

I just sent out my letters and forgot about reminding them of this. Ouch...

Guess I will have to blog on it.

Jan 27, 2011 11:58 PM

TeamCHI - Complete Home Inspections, Inc.

Complete Home Inspections, Inc. - Brentwood, TN

Home Inspectons - Nashville, TN area - 615.661.029

Yikes, Don't remind me. It's that time of the year again...

Jan 28, 2011 12:14 AM

Liz and Bill Spear

Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH

Transaction Alliance Cincinnati & Dayton suburbs

Cindy, Tax time, one of my least favorite times of the year! Good reminder on the form for those that had eligible clients!

Jan 28, 2011 12:44 AM

Anita Clark

Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA

Realtor - Homes for Sale in Warner Robins GA

Good tip Cindy. The contact serves a dual purpose too...gives us an opportunity to touch base and see how they like the home, whether they have friends/family that may be buying/selling, etc.

Jan 28, 2011 01:10 AM

Melissa McKinney

Everything Pines Partners Fayetteville - Fayetteville, NC

Realtor, www.LivingFayetteville.com

Cindy~ What a great way to reach out and touch your clients with information that is valuable to them! Thanks for the information to the form!

Jan 28, 2011 01:17 AM

Cindy Marchant

Keller Williams Indy NE 317-290-7775 www.marchantteam.com - Carmel, IN

"Cindy in Indy" , Realtor, Fishers Real Estate

Art, my husband used to work for the IRS as well; he does our taxes every year!

Ginny, you and me both...I could recite that all day long January-June and had to look it up when my clients asked for it!

Missy; it was so LONG ago, of course we all forgot about it.

Michael...it indeed is!

Bliz..I love tax time...just from the putting numbers in boxes aspect!

Anita...I hadn't thought about it that way; good point!

Melissa...my client reminded me so I'm just passin' it along! lol

Jan 28, 2011 02:20 AM

Lottie Kendall

Compass - San Francisco, CA

Helping make your real estate dreams a reality

Great idea, Cindy.

Jan 28, 2011 03:08 AM

Eric Michael

Remerica Integrity, Realtors®, Northville, MI - Livonia, MI

Metro Detroit Real Estate Professional 734.564.1519

Hi CIndy, how brutal would it be to have to pay back the $7500, instead of getting the $8K for Free?

Jan 28, 2011 01:46 PM

Hi Lottie...wouldn't have thought of it without my client!

Eric...I KNOW...it was hard to type that...but it is interest free...I know one of my fellow agents closed someone right before the $8,000 was introduced by like days!!

Jan 28, 2011 01:52 PM

'The Diamond Group' 'A Cut Above The Rest'

The Diamond Group @ Keller Williams - Lubbock, TX

Lubbock Texas Real Estate

Oh such a good idea. I always send the Closing statment with a form to fill out to file a homestead but I didn't think about the 8000..........thank you Cindy

Jan 28, 2011 03:02 PM

Form 5405 is worth $8,000

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