70 Days Left to Qualify for Tax Credit

The deadline to qualify for the tax credit is approaching. To qualify, one must have an accepted Purchase Agreement as of April 30. This applies to first time homebuyers ($8,000 credit) or homeowners who have been in their current home for the last five years ($6,500 credit). The key to this tax credit is the accepted offer to purchase. As long as that is in place, the law allows an additional 60 days (June 30, 2010) to actually close the transaction.

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