1st Timer,

I agree with Patrick. Just make sure you close on your home first and then on your lot. You should be fine to claim your $8,000 tax credit. Good luck.

I was told you need to earn less than $75,000...check with an account.

Unless the lot you purchase next week becomes your primary residence before you close on the purchase of your home, you should be just fine claiming the $8,000 tax credit against your new home. But you should, of course, consult a CPA for a final determination on this or any tax matter.

Peter Boyle
Summit Mortgage

I would agree with patrick, it shouldnt matter but just in case close it after.

Thanks. That's a very good point.

I would ask to close on the lot after you close on the house just to play it safe. You can still buy the lot (signed and accepted agreement, earnest money, etc) just put the closing date out past the date of the house.