Remaining Weeks of Homebuyer Tax Credit
6 Apr2010
Filed Under Buying, Housing Market · Tagged: 6500 tax credit, 8000 tax credit, tax credit · Print This Article
The time has come — the end of the line for the homebuyer tax credit. You MUST be under contract by April 30 to take advantage — true for new and repeat buyers — and your closing has to occur before June 30. So, don’t plan on trying to get the credit on a foreclosure or short sale, as this closing would probably take too long and not be complete in time. But there’s still time to close a traditional sale … barely!
In case you forgot, The credit is (up to) $8,000 for new buyers and $6,500 for repeat buyers. You can review the details in an earlier blog entry.
We know this credit was renewed a couple times, but there is currently no legislation on the table to renew it, and congress has indicated that a renewal is unlikely. So this probably is your LAST CHANCE to take advantage of a credit like this.
Read more:
Cincinnati.com
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