Home Buying in Freeport>Question Details

Carl, Home Buyer in Fairfield County, CT

How long is the $8000 tax credit for 1st time homebuyers going to be offered?

Asked by Carl, Fairfield County, CT Wed Mar 17, 2010

If i am not ready to buy before the tax credit offer expires, is there another way to qualify for it?

Help the community by answering this question:

Answers

6
BEST ANSWER
The first time homebuyer's tax credit will be expiring on April 30, 2010. This means that you need to have a fully ratified contract between you and the seller (and a lender approval if a short sale) in place by that date. The sale has to close by June 30, 2010.

This also applies to the move up buyer credit of $6,000.00.

At this time, there is no other way to qualify for the tax credit and there seems to be no extension in the works.
Web Reference: http://www.thebusybre.com
0 votes Thank Flag Link Wed Mar 17, 2010
You have to sign the contract by 4-30-2010. If you miss it most likely it will expire never to be seen again. But you never know for sure.
0 votes Thank Flag Link Wed Mar 17, 2010
Contract must be signed by the end of April and close by the end of June. I have heard some talk of another extension, but it doesn't seem to be a high priority. There has actually been more talk of not extending again.
0 votes Thank Flag Link Wed Mar 17, 2010
You have to have a contract by april 30th, 2010 and close by June 30
0 votes Thank Flag Link Wed Mar 17, 2010
As of now, you need to be in contract by April 30, 2010, and close by the end of June 2010. See IRS link
http://www.irs.gov/newsroom/article/0,,id=206293,00.html
0 votes Thank Flag Link Wed Mar 17, 2010
Here is a link that explains the credit.
0 votes Thank Flag Link Wed Mar 17, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer