Pedro Avin, Home Buyer in Queens Village, Queens...

when does the obama first time home buyer deal end?

Asked by Pedro Avin, Queens Village, Queens, NY Fri Apr 16, 2010

Help the community by answering this question:

Answers

8
Tom McGiveron’s answer
It's not the "obama first time home buyer deal". The home buyer tax credit was started in 2007 and was originally $7500 and only for first time buyers. It has been modified since and is ending April 30 (you must be in contract).
0 votes Thank Flag Link Sun Apr 18, 2010
For information regarding the first time home buyers tax credit the best source of information is the IRS because there are many criteria that may make you eligible or not.

I have a quiz on my website that you can use to see if you qualify, however, it is still wise to check irs.gov if after taking the quiz on my site you qualify.
0 votes Thank Flag Link Fri Apr 16, 2010
April' 30th , but i read some ware that they could extend it.
0 votes Thank Flag Link Fri Apr 16, 2010
You need to be in contract by April 30, 2010 an close by the end of June 2010. Speak to your tax consultant for additional information and IRS qualifying codes; also see IRS link below for additional information.
http://www.irs.gov/newsroom/article/0,,id=206293,00.html
0 votes Thank Flag Link Fri Apr 16, 2010
Well it depends - for most people it's like this:

Your contract must be accepted (signed by both sides) on or before April 30th 2010 and you must close no later than June 30th 2010.

If you were active military this year, you have a 1 year extension on these dates so that would be the same dates only on 2011.

Hope this helps and best of luck,
Dreamtown.com
Web Reference: http://www.dreamtown.com
0 votes Thank Flag Link Fri Apr 16, 2010
Pedro

You have 2 weeks to get into contract on a house and you must close by June 30.
Call or email me immediately so that I can put together a list of homes in Cambria Heights or other locations you are interested in.You have no time to waste. You should also be pre-approved by a mortgage professional. This will save time and help in negotiating a fair price. If you need help with that I can put you in touch with the mortgage pro on my team.

Allen Bauman
Century21 Yve R. E.
Licensed R. E. Agent
NYS Certified Residential Appraiser
516-791-3846
allen.bauman@gmail.com
0 votes Thank Flag Link Fri Apr 16, 2010
....Alan gave you the time frames - there is still time if you hussle, but you need to find, negotiate and get yourself under contract prior to April 30. I've got a busy week ahead with buyers who are trying to pull it off, and it is possible.

Good luck,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Fri Apr 16, 2010
Pedro, in order to take advantage of the $8,000 tax credit you have to be under contract by April 30th, and must close by June 30th.

You could also take advantage of a credit for those who have lived in their homes for 5 years, and are purchasing a new home... they qualify for $6,500 credit under the same time constraints.
0 votes Thank Flag Link Fri Apr 16, 2010
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
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