Wednesday, June 30, 2010

The Federal Home Buyer Tax Credit Gets Extended

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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