After weeks of nail biting and panic, buyers currently in escrow can relax...for now. Wednesday evening the Senate passed the first time buyer tax credit extension which gives buyers until Sept 30 to close escrow and collect their $8,000.
This only qualifes for buyers who already had a fully executed purchase contract before April 30th 2010. This bill did no pass last week because it was attached to another bill that would cost the federal government a significant amount of money. It was separated this week and passed through the House on Tuesday, and the Senate late Wednesday evening. The final step will be for Obama to sign it.
Not sure if you qualify for this credit? Contact me at brokerbridget@gmail.com
Bridget Fanning, MSBA
Bridge Coast Team
Keller Williams Metro
