There are a lot of tax credit perks.Â The new law that was extended past November 30, 2009 has a lot of benefits.Â The new law applies to step up buyers moving up to their next home.Â If you have lived in your home as the primary residence for 5 of the last 8 years then you qualify.Â See links below for more helpful information.
But did you know that if you are stepping up and having trouble selling your home, you can still qualify without actually selling the first home.Â But. . . you must purchase the second home as your primary residence. Â Not too bad.Â It is time to move.Â . . .Â Are you ready?
“There is no requirement that existing homeowners must have sold their home to be eligible for the $6,500 tax credit. However, Weichert encourages existing homeowners who want to benefit from this incentive to move quickly, particularly those who prefer to first sell their current home before purchasing a new one.”Â Quoted from : RIS Media – Repeat Buyers Need to Act Fast to Capitalize on Expanded Tax Credit
Additional Tax Credit Details from Realtor.org
Frequently Ask Tax Credit Questions