Jun 29 2010
The¬†treasury department extended the¬†tax credit until Sept. 30 to allow buyers to complete their purchases and qualify for tax credits of up to $8,000 for first-time buyers and $6,500 for existing owners who move. Under the original plan, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale.
The extension only allows people who signed contracts to finish the transaction at the later date. This will help the buyers who are purchasing short sales which can take months or never actually close.
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