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Help! I got the $8000 tax credit to buy my house and now I need to move!

By
Real Estate Agent with Team Momentum Keller Williams Realty Tacoma

From Anna Matsunaga Keller Williams Realty Tacoma 253 353 2662 www.teammomentumrealestate.com

Many buyers took advantage of the tax credit for purchasing a home and now some of those folks are in a place where they need to move or sell.  What then, the rules provide for the buyer staying in their home at least 3 years, if they can't what then. 

 

Here is a link to an article that may help answer the question for your situation.  Also if you are in the area and would like tax advice regarding this situation, please contact me and I will put you in touch with a great Tax expert who can help you.  Need to sell your home, afraid it might be a short sale?  I am experienced with that as well and have all the resources you will use along the way.

 

Here is the link and looking forward to talking with you soon. 

http://articles.chicagotribune.com/2011-02-03/classified/sc-cons-0203-re-matters-20110203_1_first-time-home-buyer-tax-tax-credit-federal-income-taxes

 

Thinking you may rent your home instead?  Call me in that case as well I have resources you will find helpful.

 

Anna Matsunaga 253 353 2662

www.teammomentumrealestate.com

 

Bill Reddington
Re/max By The Sea - Destin, FL
Destin Florida Real Estate

Unfortunately when buyers got that $8,000 credit I don't think all the rules were explained that went along with it. Yes I believe the 3 year term in nonnegotiable.

Feb 06, 2012 10:43 AM