Miami real estate news and information

FIRST TIME HOME-BUYERS TAX CREDIT EXTENSION RETRACTED

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FLORIDA REALTORS retracted statements extending the first-time homebuyers tax credit CLOSING DATE.

It appears that homebuyers will need to close by June 30, 2010 afterall.

Although Reuters reported an extension to closings by the Federal Government, allowing homebuyers who were under contract by the April 30th deadline, to close up until September 30, 2010 (past the original June 30th deadline) ….   You do need to close by June 30th to take advantage of the tax credit.  

THE REPORT of an extension HAS BEEN RETRACTED.  Check the FLORIDA REALTORS website for updates, but, as of today,  in order for first time homebuyers to take advantage of the tax credit, buyers will need to close by June 30th afterall. The tax credit allows for $8,000  to first time homebuyers and $6,500 for existing homeowners who are purchasing a new primary residence, provided that you were under contract by April 30, 2010.

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