Just before the holiday weekend, the President signed a bill to extend the closing date for buyers to take advantage of the $6,500 or $8,000 homebuyer tax credits.
PLEASE NOTE – this is not an extension of the original tax credit itself, just the closing date!
Originally, folks under contract by April 30, 2010 had been required to close on their new homes by June 30th in order to qualify. For the last couple of weeks leading up to that deadline we were hearing and reading lots of rumblings about banks struggling to get the large volume of deals done in time. They now have another 3 months to close with a new deadline of September 30, 2010. We had a couple of our closings go right up to the wire last week and one first-time buyer that didn’t make it so we’re thrilled for him! According to Reuters, as many as 180,000 buyers were in jeopardy of missing the deadline.
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Get to know Jacob Clayton (155 Posts)Hi, I'm Jake...and that's my dog! By day I'm founder and Chief Geek at MyUntangled Media, LLC and Executive Director of Business Development at Barrett & Company Real Estate . By night I am part struggling musician, frustrated writer, wanna-be chef and obsessed dog owner. I started this site mainly to learn WordPress, work on my design and writing skills, and showcase some folks with all kinds of talents and great stuff to say. (Read the long version if you dare) and please introduce yourself over on my Google+ Profile!
