I know a lot of buyers that are in a huge hurry right now to make the April 30th, 2010 Home Buyer Tax Credit deadline here in the Fort Gordon duty station area. I just wanted to let all you know that are in the military that you might have some extra time to take advantage of this tax credit.Here are the rules that apply for the Military, Foreign Service and Intelligence Community (Army, Air Force, Marines, Navy and Coast Guard):
- The current law for the home buyer tax credit, for both first time home buyers and home owners replacing their current home, extended the deadline to enter into a contract to buy a home no later than April 30, 2010 and close on the homes by June 30, 2010.
- Members of the military and other federal employees that serve outside the U.S. have an extra year and qualify for the credit. Basically that means that military personnel and federal employees that have been stationed or deployed for at least a 90 day period between December 31, 2008 and May 1, 2010 have until April 30, 2011 to enter into a binding contract and has until June 30, 2011 to close on the purchase of the house.
If you have any questions, please contact me for further information. Please see the link above that I have included to the IRS page explaining the rules above in detail. Please remember that I can represent you during the home purchasing process as your Buyer’s Agent. This is a service I provide and doesn’t cost you any out-of-pocket expenses. I will be happy to send you a pamphlet explaining agency by email.