1st Time Home Buyers Take Advantage of Tax Credit

By
Real Estate Agent with Coldwell Banker Preferred Properties

Boy, has it gotten busy lately or is it my imagination!  I listed a home for sale in Helena, Alabama 3 weeks ago and we already received an offer.  The seller had fixed it up and it looked GREAT.  The person who is buying the home as never owned a home before and can take advantage of the First Time Home Buyer's Tax Credit.

If you are a first time home buyer (and a 1st time home buyer is defined as someone who hasn't owned a home in the last 3 years), then you can qualify for an $8,000 TAX CREDIT on your 2009 taxes.  A tax credit which is good for homes purchased through December 1st 2009, is better than a deduction because it is subtracted directly from the amount of tax you owe. If you don't owe $8000, you get cash back!! Just buy a house and you can get a credit for 10% of the home's purchase price (up to $8000).

There is nothing that you have to apply for ahead of time.  The credit will be claimed when you file your income tax return. Click Here to see a copy of the form that you file with your taxes.  If you owe less than 8,000 in taxes, you will get CASH BACK to use on whatever you want.  Check out the form for instructions and information about income limits and what to do if you sell the house before 3 years is up.

You keep hearing Now is the Time to Buy, well Now is the Time to Buy.Home for Sale Helena Alabama

I told you about the house with the offer on it - well there is another one right down the street waiting for YOU.  This home has 2 Bedrooms, 2.5 Baths and a nice updated Kitchen. The owners have loved this house and NOW it is your turn. Take A Look at the Visual Tour.

If you haven't already done so, now is the time to contact a lender and get pre-approved for a loan.  Click here to shop for houses on line at my website www.ToniBird.com, When you are ready, contact me and I'll set up appointments for you to see your top picks. 

 

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Topic:
Home Buying
Location:
Alabama Shelby County Helena
Tags:
homes for sale helena alabama
1st time home buyer tax credit
irs tax credit form

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