Home Buying in 20743 : Advice

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anawa07, Home Buyer in Capitol Heights, MD
anawa07 answered:
Is there a 1st time homebuyer credit to use on my 2013 taxes?
I brougth a house in june2012, do I get tax cerdit for first time buyer???
0 votes Share Flag Sun Apr 7, 2013 Home Buying in 20743
Akil Walker, Real Estate Pro in Bowie, MD
Akil Walker answered:
I went to file my taxes on turbo tax and it told me that the 1st first time homebuyer tax credit is no longer available for 2012 is that true
Hello Khairston30,


As already noted this program ended however, your closing cost might give you some tax deductions but you will need to consult with CPA.


Good luck
0 votes Share Flag Fri Jan 11, 2013 Home Buying in 20743
Akil Walker, Real Estate Pro in Bowie, MD
Akil Walker answered:
I just brought a house in December, 2011. Do I get the tax credit for first time buyer?
Hi Connie,

you can write off your closing cost expenses from your hud1. The tax credit portion has expired as previously noted.
0 votes Share Flag Sun Aug 26, 2012 Home Buying in 20743
Brent Mendel…, Real Estate Pro in Bethesda, MD
Brent Mendelson answered:
closed on house august, 2011 in SC, any tax credits available?
I would get a good CPA in SC who knows the ins and outs of the SC tax code. Ask them for any credit or deductions. Hope this was helpful.

Thanks,
Brent Mendelson
1st Mariner Mortga ... more
0 votes Share Flag Fri Apr 6, 2012 Home Buying in 20743
Kimberly Bar…, Real Estate Pro in Annapolis, MD
Kimberly Barton answered:
i baught a house in october 2011! when i file my taxes in 2011, do i get anything back for that! i went through first time home buyers
Crystal,

You may notice that your tax liability will change when you file your first income taxes after a first home purchase. Your deductions do change and your tax liability is ba ... more
0 votes Share Flag Sun Feb 5, 2012 Home Buying in 20743
Kimberly Bar…, Real Estate Pro in Annapolis, MD
Kimberly Barton answered:
is there a 1st time home owner credit to use on your 2012 taxes?
If you are referring to the stimulus incentive offered to first time home buyers where the government provided a lump sum tax credit of up to $8,000 (depending on which program and at w ... more
0 votes Share Flag Sun Feb 5, 2012 Home Buying in 20743
Kimberly Bar…, Real Estate Pro in Annapolis, MD
Kimberly Barton answered:
I closed my house on January 26th 2011. Do I qualify for the credit since it expired in Feb. 2011?
If you are referring to a first time home buyer credit allowed by Maryland, you received that on the settlement HUD1. Maryland allows a small tax credit to a first time home buyer by r ... more
0 votes Share Flag Sun Feb 5, 2012 Home Buying in 20743
Yak, Home Buyer in Montgomery County, AL
Yak answered:
2011 First time home buyer $5000 tax credit.
how much is first time home buyer credit for 2011 does it apply in montgomery alabama
0 votes Share Flag Sat Jan 14, 2012 Home Buying in 20743
Molly Hay,SFR…, Real Estate Pro in Columbus, OH
Molly Hay,SFR,CDPE & CNHS answered:
I am a first time homebuyer and closed on my home on Dec 16,2010. Do I get a tax credit?
Yes if you meet the criteria. I have attached a link below that is on the IRS website that explains what you had to do to qualifiy.
0 votes Share Flag Sun Jan 1, 2012 Home Buying in 20743
Laura Roskel…, Real Estate Pro in Odenton, MD
Laura Roskelly answered:
Cash Sale
In a nutshell what it should mean to you as a buyer is steer clear of that property. The condo association which you would have to pay into each month in order for them to maintain the ... more
0 votes Share Flag Mon Aug 15, 2011 Home Buying in 20743
Nicole Marks…, Real Estate Pro in Boca Raton, FL
Nicole Marks Mason answered:
what do i look for when buying a house?
Hi Judy. I think you already know the 1st rule of real estate - Location Location Location. Find a home in a location that is near things that are of interest to most people, such as, ... more
0 votes Share Flag Mon Aug 15, 2011 Home Buying in 20743
Laura Roskel…, Real Estate Pro in Odenton, MD
Laura Roskelly answered:
why must I wait 2 months to buy a home, having to show 2 months of DP in bank?
Hi Gwen,

It sounds like you are getting a government loan with a low downpayment. They have restrictions designed to prove that you are financially capable of owning a home includin ... more
0 votes Share Flag Wed Jun 29, 2011 Home Buying in 20743
Gary Geer, Real Estate Pro in Antioch, IL
Gary Geer answered:
Expired Listing
Fungirl,
That means the home is not for sale on the market anymore (their listing period has expired). If you are still interested in this home you can contact the seller directly or h ... more
0 votes Share Flag Tue Jun 28, 2011 Home Buying in 20743
David Burnham, Real Estate Pro in Washington, DC
David Burnham answered:
The Addison condos
I am not there is a definitive answer, but I have seen a lot of places in PG county struggle. One thing I have been seeing is that there was a lot of new construction 5 or 6 years back ... more
0 votes Share Flag Mon Jun 20, 2011 Home Buying in 20743
Don Tepper, Real Estate Pro in Fairfax, VA
Don Tepper answered:
Rent to own
No. You don't need a Realtor.

If you don't use a Realtor, you should have a lawyer. Even if you do use a Realtor, a lawyer is advisable.

By the way, there's lots of ... more
0 votes Share Flag Wed Jun 15, 2011 Home Buying in 20743
Brenda Feria, Real Estate Pro in 23233
Brenda Feria answered:
Rent to own
Rent to own can be one of two scenarios: Lease w/option to buy or Lease/purchase agreement. With a lease with option to buy or with a lease/purchase, the owner may give you credit for ... more
0 votes Share Flag Wed Jun 15, 2011 Home Buying in 20743
Tyra General, Real Estate Pro in 20772
Tyra General answered:
PRICE RANGE
Hi,

Some of my colleagues have already spoken to your question and have given good advice. A great lender, will assist you in determining the best financial structure concerning your ... more
0 votes Share Flag Tue Jun 14, 2011 Home Buying in 20743
THE OLIVER T…, Real Estate Pro in 75154
THE OLIVER TEAM - Chris Oliver answered:
homepath property
Great advice below. Let me add that Fannie mae is the owner and is allowing both types of financing for the property. The difference between homepath financing and homepath renovation f ... more
0 votes Share Flag Sat May 21, 2011 Home Buying in 20743
Phil Rotondo, Real Estate Pro in 32940
Phil Rotondo answered:
Contract
The home is up for grabs again :).
The previous contract cancelled for any myriad of reasons (inspection, financing, etc.)
0 votes Share Flag Fri Apr 1, 2011 Home Buying in 20743
Allan Erps, Real Estate Pro in 10954
Allan Erps answered:
Closeing help
Your Agent can put in a Sellers Concession(up to 6% on FHA Loans). The money is reversed to you back at the closing table as a credit. However your Mortgage will reflect the higher numb ... more
0 votes Share Flag Thu Mar 24, 2011 Home Buying in 20743
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