Seize the opportunity to take advantage of the Home Buyer Tax Credit Extension & Expansion which authorizes a tax credit of up to $8,000 for qualified first-time home buyers or up to $6,500 for qualified current home owners purchasing a principal residence between November 6, 2009 and April 30, 2010. To be a first-time home buyer you cannot have owned a principal residence during the three year period prior to purchase. A current home owner must have lived in the same principal residence for five consecutive years of the last eight years.
The amount of the tax credit is equal to 10% of the home's purchase price, up to a maximum of $8,000 (first-time home buyers) and $6,500 (repeat buyers). As always, please consult your tax professional for specifics.
The deadline to be under contract on a home purchase is April 30, 2010. You must close no later than June 30, 2010.
You may also find detailed information about the Tax Credit from our website.
The Muller Team are licensed residential Realtors in Kansas & Missouri.
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