Home Buyer Tax Credit isn't Gone... Yet...
By Lane Bailey, Realtor & Car Guy
(Century 21 Results Realty)
Don't drag your feet. If you are planning on taking advantage of the Home Buyer Tax Credits (either the $8,000 First Time or $6,500 Existing Home Buyer Tax Credit), time is running short. The credit expires for buyer not under contract as of Saturday, 30 April, 2010. That means that you HAVE to be UNDER CONTRACT... not just have an offer... I have had a couple of buyers think that they could put in an offer and then negotiate it in May... No. There has to be a Binding Agreement on or before 30 April, 2010 (unless you are Active Duty Military... you then have an extra year). And then comes the next hurdle... The sale HAS to close by 30 June, 2010. In effect, this puts the vast majority of Short Sales out of reach. The average time for a Short Sale to go from Binding Agreement to ...
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