At the mid year meeting NAR and the federal government agreed to make this a reality. Since the $8000.00 Tax Credit is a real credit and not a loan. It is a terrific opportunity for a home buyer that has not owned in the past 3 years.
Since the buyer must close by December 1, 2009, the monetizing of the credit to give the maximum benefit needs to occur quickly. The first time buyer is the first in a line of transactions. Their entrance into the market unlocks a chain of contingent contracts.
For those that have already purchased this year and are entitled to the credit they can amend their return and get the credit now. The form needed is Form 1040X available at http://www.irs.gov/
Thank you for your time, if there is ever anything I can help you with, don't hesitate to ask.
“It’s a funny thing about life; if you refuse to accept anything but the best…you very often get it” Somerset Maugham
"Expect the Best" Pat Ogle
Pat Ogle, Associate Broker, CRS, DSAC, e-Pro, GRI, MCJ, REALTOR®
Certified Residential Specialist / Certified Internet Marketing Specialist
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