The April 30, 2010, deadline is fast approaching to have purchased – or be under a binding contract to purchase – a home and still receive a tax credit under the best government-sponsored homebuyer incentive program to come along in decades. After that deadline, the program will most likely disappear for good.
Do You Qualify?
Under the federal program, first-time homebuyers can receive a tax credit of up to $8,000, and current homeowners can receive a tax credit of up to $6,500 when they buy a home as their principal residence.
- A first-time homebuyer is defined as someone who has not purchased a primary residence in the past three years.
- Current homeowners must have lived in the same principal residence for at least five consecutive years out of the eight years leading up to the date of the purchase to qualify.
- The extended credit applies to homes purchased between Nov. 7, 2009 & April 30, 2010.
- Form 5405 must be completed & filed with your taxes in order to receive the tax credit.
Anyone who knows me knows I have a pet peeve about over use of exclamation marks… But. really, time is running out. The time to act is NOW – without delay!
If you have any questions or are simple ready to get out there and start seriously looking to invest in your future and property, contact Carmen at 530.601.1003 and let’s get moving in the right direction.
