Home Buyer Tax Credit Extended to September 30, 2010
by Rob on July 1, 2010
in Boiling Springs Market Conditions, First Time Home Buyer
Home Buyer Tax Credit Extended for 2010
After a close brush with the deadline, Congress has passed an extension of the Home buyer Tax Credit closing deadline, the Home buyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed. The legislation is designed to create a seamless extension the new closing deadline for eligible transactions is now September 30, 2010. There is will be no gap between June 30 and the date the President signs the bill into law.
The National Association of Realtors (NAR) worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the Tax Credit Closing deadline will help provide additional stability to real estate markets across the nation.
