(Closed) *Alert!* Home Buyer Tax Credit Extended!

posted 7 years ago in Home
Post # 3
Member
2090 posts
Buzzing bee
  • Wedding: August 2010

This is just for first time home buyers, correct? And just for homes you live in full time? (i.e., not if you buy a vacation property or rental property)?

Post # 4
Member
1523 posts
Bumble bee
  • Wedding: September 2010

@gabrielleelise1981: I believe this is only for first time homebuyers. Also, the tax credit has always been only for primary residences, not rental properties or vacation homes. When we bought our home we had to sign an agreement that the home would be our primary residence for 3 years or else we would have to give back the $8,000 tax credit.

Post # 5
Member
14067 posts
Honey Beekeeper
  • Wedding: June 2011

I thought this was only for people that had still signed their P&S by April 30 and they were just extending the deadline for closing….?

Post # 6
Member
4123 posts
Honey bee
  • Wedding: October 2010

Lol – that would be good news, but we’re still waiting to receive ours! 

Post # 8
Member
3943 posts
Honey bee

Yes, you had to be in contract by April 30th and now close by September 30th (it was June 30th).

KLP we are waiting for ours too. I have heard it can take months and months though so who knows!

Post # 10
Member
277 posts
Helper bee
  • Wedding: July 2010

@pinkshoes: It is.

The extension is only if you were under contract by April 30th but closed after June 30th. There was a lot of backlog at lenders that led to people having closings scheduled after June 30th (and would have missed the credit). This extension is NOT if you put an offer / came under contract anytime after April 30th.

Well now my reply is pointless since the OP edited. 😉

We received ours in 4 weeks, closed during the last week of March and received it the last week of April.

Post # 12
Member
144 posts
Blushing bee
  • Wedding: June 2011

I am actually really excited about this.  I have an interview on Friday and if I get the job we will start to look for a house immediately!!!  Thanks for the news!

Post # 13
Member
5390 posts
Bee Keeper
  • Wedding: December 2010

Darn, we still can’t get it. FH signed the contract in June.

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