Time is running short for taking advantage of the tax credit. What you need to do now, by mid-March, and April.
There are two homebuyer federal tax credits: the first time homebuyer credit up to $8000, and the move up credit of $6500. Both of these come with specific deadlines you need to know.
To collect either credit you will have to have a home under contract by April 30. There is another deadline: The home has to close by June 30th.
What should you be doing right now? Check out a timeline that can put you on track for a new home and the tax credit …
“If you want to collect the tax credit don’t wait until the last half of April to begin looking for a house. Yes, it’s possible you could do it all in a couple of weeks: find a house that you like, negotiate a price and secure mortgage financing. Possible … but not probable.”
View the timeline and article from Bankrate.com and what to do by mid-March
Link to the IRS for more details
If you are looking for either St. Louis real estate or St. Charles real estate call Finding Homes for You at 636-386-0659. We work for you, the Buyer only to protect your interests throughout the homebuying process. If you need a lender we can provide you with local names.
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