Home Buyers Have 77 Days Left For Tax Credit
Posted by Phil Boren on Friday, February 12th, 2010 at 5:15pm.
Home buyers have 77 days left to claim the federal tax credit of up to $8,000. The new provisions extend the deadline to April 30th and also provide a new credit of up to $6,500 for buyers who do not qualify as "first-time" home buyers. You can get more details on our website, but here are a few facts:
- To qualify, the home must be contracted for by April 30, 2010 and the deal must close by June 30, 2010.
- First-time buyers, or buyers who have not owned a home for at least 3 years prior to closing, are eligible for a federal tax credit of 10% of the purchase price, up to $8,000.
- "Other" buyers are also eligible for a tax credit up to $6,500, provided they have owned their current home for 5 out of the previous 8 years. There is no requirement that the current home be sold.
If you're considering buying a home, now may be the perfect time. If you have any questions about Boulder real estate or about the home-buyer tax credit, please feel free to call 303-441-5647 or visit us online.
(C) Copyright - Phil Boren. All Rights Reserved.
Phil Boren
Direct: 303-441-5647
Email: pboren@remax.net
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