what is the real due date for the 8,000 $ tax credit because i heard in the radio the due date its october 30?

Asked by 2007, Philadelphia, PA Mon Oct 5, 2009

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11
Svetlana P.…, , Washington, DC
Sat Feb 6, 2010
Thank you for your question. The average home buying transaction takes about 60 days. Therefore, to comfortably meet the April 30 deadline to be under contract and close by June 30, buyers should be shopping now. If you have specific questions about this would affect your taxes, check with your tax accountant or attorney.

Basic information for 2010 Homebuyer Tax Credit on our website: http://coldwellbanker.com/servlet/News?action=viewNewsItem&a…

Being pre-approved for a mortgage is the most important step for the success of your home search!
Preapproval is also the foundation for your negotiating position with sellers. You need to find your purchasing power prior to searching properties.

Kind Regards,
Svetlana
0 votes
Gita Bantwal, Agent, Jamison, PA
Wed Feb 3, 2010
As of now, The tax credit applies to homes purchased on or after January 1, 2009 and April 30,2010. If a binding contract is signed by April 30, 2010 and it settles by June 30 2010 it will qualify.
go to http://www.irs.gov for details and talk to an accountant to see how it applies to you.
There are specific conditions that have to be met.
Web Reference:  http://www.gitabantwal.com
0 votes
Angelica Tor…, , Rancho Cucamonga, CA
Wed Oct 21, 2009
It is December 1st. Buyers need to close before December 1st to claim First Time Home Buyer's Tax Credit.
0 votes
Dallas Texas, Agent, Dallas, TN
Thu Oct 8, 2009
GREAT question : 11.30.09 at 11:59PM title must be in your name.

Did you realize you receive annual tax benefits owning a home . If you are searching purchase you need to get going it takes approx. 30 days close on home

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Lynn911

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0 votes
Letitia Stev…, Agent, Greenville, DE
Tue Oct 6, 2009
The 2009 $8,000 tax credit expires December 01, 2009. Which means qualified buyers MUST CLOSE ON OR BEFORE Monday, NOVEMBER 30, 2009. Keep in mind that it can take up to 45-60 days to close - from the effective date of the sales agreement.
Web Reference:  http://www.recoachhomes.com
0 votes
Renee Porsia, Agent, Newtown, PA
Tue Oct 6, 2009
Hello Lalla,

The actual date to have purchased your home and able to take advantage of the tax credit is November 30, 2009.

If you haven't already found a home by now, you probably won't be able to take advantage of the tax credit now. You don't want to rush out and pick a home just to take advantage of the tax credit.

There is talk about extending it so stay tuned.

If you are interested in keeping up with what is going on with the tax credit, feel free to read my blog at http://www.reneepporsia.com

If you have any questions about the home buying process, I would be happy to answer them. Feel free to contact me.

Renee Porsia
Associate Broker
RE/MAX ACTION
(215) 669-0589 Direct
(215) 358-1100 Office Ask for Renee
http://www.reneeporsia.com
0 votes
Chris Capps, Agent, Richmond, VA
Tue Oct 6, 2009
Lalla,

Tax Credit:

You need to act quickly to take advantage of the tax credit.

If you do not already have one I highly recommend you contact a Realtor to partner with and create a buying strategy and narrow your search which will save you time and money.

I have some contacts in that area, please let me know if you would like names.

Tax Credit info: http://www.federalhousingtaxcredit.com/2009/index.html


Chris Capps, Realtor
Residential Real Estate Specialist

cell 804.896.6945
office 804.740.1644 ext. 103
fax 804.545.7224
email chriscapps@oakstoneproperties.com
web http://www.chriscapps.com

“It's Time to Expect More From Your Realtor®”

Licensed in Virginia, with contacts across the country
Web Reference:  http://www.chriscapps.com
0 votes
Bill Eckler, Agent, Venice, FL
Tue Oct 6, 2009
Lalla,

The following website will provide the answers to most of your questions about the program.

Good luck


http://www.federalhousingtaxcredit.com/2009/faq.php
0 votes
Shawn Rogers, Agent, Mesa, AZ
Mon Oct 5, 2009
11/30/09 is the date you must close on your property, as a first time buyer. There is talk of
an extension, however, nothing confirmed as of yet.
0 votes
Kathleen Lor…, Agent, Baxter, MN
Mon Oct 5, 2009
Many lender programs are taking 45 - 60 days to close and the latest close date is November 30th. Time is running out soon!
Web Reference:  http://topbrainerdagent.com
0 votes
Patrick Thies, Agent, Anytown, IL
Mon Oct 5, 2009
You must close on the property before Dec. 1st which means that last day to actually close is Nov. 30th which is the Monday after Thanksgiving weekend.
0 votes
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