Congress Extends the Deadline to CLOSE Last year, Congress passed a tax credit for first time homebuyers and many “long-time” homebuyers. This credit provided for two deadlines: Receive a binding offer to purchase on or before April 30, 2010 Close the sale on or before June 30, 2010. Lenders, title companies, and real estate professionals [...]
Archive for the ‘First Time Tax Credit’ Category
Tax Deadline Extended… sort of
Posted in First Time Tax Credit, Loans and Lending, news, short sales, tagged closings, congress, dane county, extension, first time homebuyer, fsbo, homestead title company, interest rates madison, short sale, tax credit, title company, wisconsin on July 1, 2010 | Leave a Comment »
After The Deadline — Tax Credit Expires
Posted in First Time Tax Credit, Misc., tagged closings, dane county, deadline, decline, first time home buyer tax credit, home sales, homestead title, madison, realtors, title insurance, wisconsin on May 3, 2010 | 4 Comments »
The deadline for accepting a “binding contract” and qualifying for the home buyer tax credits expired on Friday April 30th. For those who signed an offer on or before April 30th, they can still get the credit if they close by June 30th. But the big question on the minds of Realtors and those in [...]
The Tax Credit and The “Binding Contract” Question
Posted in First Time Tax Credit, tagged binding contract, dane county, homestead title, madison, tax credit, wisconsin on April 29, 2010 | Leave a Comment »
The Home Buyer Tax Credit has two deadlines: 1. Enter a Binding Contract on or before April 30, 2010; and 2. Close on or before June 30, 2010. As the 1st deadline for the Home Buyer Tax Credit fast approaches, one question keeps rearing its ugly head: What is a “Binding Contract” according to the [...]
Count-Down To Tax Credit Deadline
Posted in First Time Tax Credit, short sales, tagged april 30th, binding contract, closings, dane county, dane county title company, deadlines, homestead title company, madison, tax credit, wisconsin on April 28, 2010 | Leave a Comment »
The deadline for the First Time Home Buyer Tax Credit and the Long Time Home Buyer Tax credit is FAST approaching. The deadlines are: 1. The parties must enter into a “binding contract” on or before April 30, 2010; and 2. The transaction must close on or before June 30, 2010. This means you have [...]
Misunderstanding The Home Buyer Tax Credit Deadlines
Posted in First Time Tax Credit, tagged april 30th, booked, closings, dane county, deadlines, homestead title, madison, overbooked, tax credit, title insurance, wisconsin on April 14, 2010 | 2 Comments »
The Tax Deadline Approaches . . . or does it? Buyers who wish to qualify for the first time home buyer tax credit must meet two deadlines: They must “enter into a binding contract to buy, a principal residence on or before April 30, 2010” and Close on the home by June 30, 2010. [...]
First-Time Homebuyer Tax Credit
Posted in First Time Tax Credit, tagged closings, dane county, first time home buyer, homestead title, madison, tax credit, title insurance, wisconsin on March 15, 2010 | 1 Comment »
The First-Time Homebuyer Tax Credit is the subject of numerous questions and confusion. It is always best to consult an accountant or tax adviser about any tax related questions. This post is intended to offer some background and resources from the IRS. Indeed, everything in this post comes directly from the IRS website. You should [...]
Short Sale Bank “Agreement” To The Offer To Purchase And The First Time Homebuyer Tax Credit
Posted in First Time Tax Credit, short sales, tagged dane county, dane county title, homestead, madison, short sale, short sales, tax credit, title insurance, wisconsin on February 24, 2010 | 1 Comment »
Two Common Questions: 1. Can a short-sale seller accept multiple offers until the lender approves the sale? 2. Can a first time homebuyer claim the Tax Credit if the short sale lender has not accepted the offer before April 30, 2010. A common misconception with Short Sales is that the seller’s lender must agree to [...]
