Don't miss out on this historic event! This is your last chance to cash in on the First Time Home Buyer Tax Credit. As it stands, the tax credit of $8,000 for first time home buyers, and $6,500 for existing home owners, is set to expire on April 30, 2010. That means, in order to receive the credit there must be a binding contract in place by April 30th and it must be closed on or before June 30th.
Who is a first time home buyer?
A "first time home buyer" is classified as someone who has never owned a home OR who hasn't owned a home in the last 3 years. The property being purchased must be the purchaser's primary residence and certain income guidelines must be met.
What are the guidelines for existing home owners?
Similarly, in order for an existing home owner to qualify for the $6,500 tax credit certain income guidelines must be met. In addition, the home being sold must have been used as the seller's primary residence for 5 consecutive years of the last 8.
What about service members?
Congress has acknowledged the unique circumstances affecting members of the military, foreign service and intelligence community by making a few exceptions to the tax credit deadline. Anyone on active duty and stationed outside the U.S. for 90 days during any part of 2009 will have an extra year to purchase a home. Service members will also be exempt from repaying the credit if they have to sell their home after fewer than 3 years of occupancy due to official business.
Visit www.fredwilliamshomes.com to learn more about this unique opportunity.
A "first time home buyer" is classified as someone who has never owned a home OR who hasn't owned a home in the last 3 years. The property being purchased must be the purchaser's primary residence and certain income guidelines must be met.
What are the guidelines for existing home owners?
Similarly, in order for an existing home owner to qualify for the $6,500 tax credit certain income guidelines must be met. In addition, the home being sold must have been used as the seller's primary residence for 5 consecutive years of the last 8.
What about service members?
Congress has acknowledged the unique circumstances affecting members of the military, foreign service and intelligence community by making a few exceptions to the tax credit deadline. Anyone on active duty and stationed outside the U.S. for 90 days during any part of 2009 will have an extra year to purchase a home. Service members will also be exempt from repaying the credit if they have to sell their home after fewer than 3 years of occupancy due to official business.
Visit www.fredwilliamshomes.com to learn more about this unique opportunity.
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