Updated July 1 – Now the bill has passed both the House and the Senate, and is headed for the President’s desk. Provided you were under contract by April 30th, you would NOW have until September 30th to receive the buyer credit rebate. Whether you like the credit or not, it looks like it’ll be extended.
A question came in for Brandon Nicely on the blog over the weekend from Josh. He wrote:
We passed the first-time buyer credit, and it went so well we did it again, but with a twist. This time, we offered up to $8000 back to first-time buyers, as well as another $6500 for people who were “moving-up”. Again, here are the details …
The tax credit extension has been signed into law, and now people far and wide are wondering if it’ll create a Monopoly-like run on buying properties and collecting checks.
As we countdown to the expiration of the $8000 first-time buyer tax credit, the question everyone seems to be asking is “are we going to see the credit again?” As I was speaking with a seller tonight, it was one of the questions he wanted to ask, and I’d bet at least once a day for the last few weeks has someone stopped me to ask whether I’ve heard that the first-time buyer tax credit will or will not be extended.
That’s right, the first-time home buyer credit has an expiration date, and it’s rapidly approaching.