Florida Licensed Realtor Phone: 386-682-8800 Email Carlos
The American Recovery and Reinvestment Act of 2009 expanded the homebuyer’s first time homebuyer. The tax credit has been revised and under the “The Worker, Homeownership and Business Assistance Act of 2009” many homebuyers will benefit. While the original tax credit was set to expire November 30, 2009, the United States government extended the tax credit to stimulate the U.S. housing market.
The buyer does not need to repay the tax credit IF they occupy the property for three years or more. If the property is sold during the 3 year period, the full credit will have to be repaid on the sale.
Remember different laws and guidelines apply to the original First Time Homebuyers tax credit. Contact us and we would be happy to assist you in home buying experience!