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Finn Mauritzen's Blog

By Finn Mauritzen | Agent in Uniondale, NY

Can you buy a short sale and still get the tax credit?

Maybe.  Today there are 46 days till April 30, 2010.  This is the deadline for getting your tranasction in contract.  Then you have another 60 days, June 30, 2010, to get it closed.

Finding a home and getting a contract signed in 46 days seems doable.  Getting it closed by June 30, 2010 is more questionable.

Of the three short sales that have closed in Uniondale this year, one was in contract for 169 days, one for 82 days and one for only 31 days.  Since the past does not provide any clear guidance, the conclusion is that it depends on the individual circumstances.

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