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THE GOVERNMENT TIME LINE FOR THE 2010 $8000 Tax Rebate
Posted by: Paul Nwachukwu (WA-CHU-KOO), on 4/7/2010
Views: this has been read 454413 times

THE GOVERNMENT TIME LINE FOR THE 2010 $8000 TAX REBATE

     As a first time homebuyer you wonder if you must have a contract on a property and settle by the April 30th 2010 to be able to take advantage of the $8000 Rebate.

     This is the fact: (a) you must have a contract ratified on the desirable property by the April 30th 2010. (b) Then you have up to June 30th 2010 to settle on the property. 

      What do I mean by a ratified contract on a property? By the key word (Ratified) I mean both the Buyers and Sellers agreeing and signing a sales contract, which makes it a biding obligation to sell the property to the buyers by the Sellers. Therefore I suggest that if you intend to take advantage of the $8000 rebate you start the process now.

      The most ask question of the rebate: Can I use it as a down payment to my purchase? The answer is “No”. You get this rebate the following year, when you file your taxes.

 


 

 

 

 

To better understand and get help with the process of buying and taking advantage of the $8000 rebate please may we have the following necessary information on you and GLOBE-PRO REALTORS will assist you with the process.




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