First Time Homebuyer Tax Credit Deadline Approaching
Serious 1st time homebuyers need to be aware that the deadline for you to have your future home under contract is less than 30 days away and the official deadline is April 30th, 2010. The good news is that there is an outstanding selection of available homes in Knox County, Ohio so be sure to visit and view Knox County Homes.
Another important date to keep in mind is June 30th, 2010. This is the date your future home transaction must be closed in order to take advantage of the tax credit. Many people do not realize that this is not a tax deduction but an actual tax credit. If you qualify for the tax credit and you bought an $80,000 or higher home you would qualify for an $8,000 check from the IRS. If you normally get about $2,000 from the IRS as a tax refund, you should get $10,000 back when you either file your taxes. Something often overlooked is the ability to amend your prior year tax return and get the $8,000 check back typically within 6 to 8 weeks.
If you are serious about taking advantage of this huge home buyer incentive please contact us as soon as possible because you will need adequate time to select a suitable home and you will need a few days cushion to negotiate your contract to purchase. Remember, the contract must be fully negotiated and accepted no later than April 30th, 2010. Give us a call at (740) 397-7800 or email us for all of your Knox County Ohio real estate needs.
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