First Time Home Buyer Tax Credit Extension - 2010
By Kerry Lucasse, Your Urban Nest Atlanta Real Estate Consultant
(eXp Realty - Urban Nest Real Estate Group)
Atlanta Home Search - Georgia Real Estate B R E A K I N G N E W S ! ! ! Moments ago, the House voted 403-12 to expand and extend the Homebuyer Tax Credit (as part of the Unemployment Insurance Bill). The bill is now on its way to President Obama for his signature... so this is ALMOST a done deal! The agreement on the extension and expansion of the credit is as follows: Credit available for purchases before May 1, 2010. Prospective purchasers with binding contracts in place as of April 30, 2010 will be allowed an additional 60 days to complete the transaction. Credit remains at $8,000 for first-time purchasers. No change to definition of first-time purchaser. NEW $6,500 tax credit for REPEAT BUYERS who purchase between December 1, 2009 and May 1, 2010. Repeat buyers must have lived...
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