Do you have questions about the Tax Credit? I did too.
Many buyers clients were asking me. Here is the first answer: You have to purchase and close on a home by December 1, 2009!! Call me and let's look now if you read this information and think you qualify Sandy (704) 746-7513!
Here below is the information and some handy links I have been sending out to clients by email.
In a nutshell, you have to buy your first home, it has to be owned for 3 years or you will owe the money back to the IRS, and you cannot have the money until after you close (when you use the form to claim it). So, no, you cannot use it for a down payment.
Here is the link to the IRS form http://www.irs.gov/pub/irs-pdf/f5405.pdf
Here is a run down summary by the IRS on the rules, guidelines, etc. along with a video and audio presentation http://www.irs.gov/newsroom/article/0,,id=204671,00.html
Here is the FAQs page from the IRS for homes purchased in 2009 http://www.irs.gov/newsroom/article/0,,id=206293,00.html
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Sandy Aichner, GRI, ABR, CDPE, SFR Broker,REALTOR Licensed in NC and SC
RE/MAX Executive Realty
(704) 746-7513
Lake Norman Homes
Copyright 2008-2010, ALL RIGHTS RESERVED, by the Author - Sandy Aichner
I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.
Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!
