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Good news for home buyers that were not able to close their real estate transaction today! If you qualified for the Federal home buyer tax credit and you entered into a contract on a purchase before the April 30, 2010, deadline and did not close by the June 30, 2010, deadline you are still able to receive the Federal Home Buyer Tax Credit. The 3 month extension of time to close a real estate transaction was finally approved in the Senate. What does this mean? The extension will become a law and any qualifying buyer who had a binding contract in place by April 30, 2010, will have until September 30, 2010, to close and still receive the credit.
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