Home Buying in 48209>Question Details

Adam Farr, Home Buyer in Detroit, MI

i am looking to buy a multi family house in southwest detroit.

Asked by Adam Farr, Detroit, MI Sun May 31, 2009

does the 8000 credit apply to multi family homes?

Help the community by answering this question:


Yes,the duplex is avaliable this May call me at 9722872635.Gloria
0 votes Thank Flag Link Thu Jan 30, 2014
I have duplex to sell to you for $ 25,000 .It is remodeled.I am out of state but if you stay in detroit I will sell it to you this spring time.Call me at 9722872635 gloria
0 votes Thank Flag Link Thu Jan 30, 2014
I am a property whole seller and we have a multi-family unit and single family properties as well in our inventory, contact me at: investmac4@yahoo.com
0 votes Thank Flag Link Sun Jan 26, 2014
Adam -- Do you currently own (or have owned) a home in the last three years?
If you're doing it as an investment and not living there, then no. Can't use the credit.

Any home that will be used as a principal residence will qualify for the credit. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats. The definition of principal residence is identical to the one used to determine whether you may qualify for the $250,000 / $500,000 capital gain tax exclusion for principal residences.

Some provisions:
Income limits of $75,000 for single taxpayers and $150,000 for married couples.
0 votes Thank Flag Link Sun May 31, 2009
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