Legislation enacted in July 2010 extended the closing deadline on the first-time homebuyer credit from June 30 to Sept. 30, 2010. Legislative changes in November 2009 expanded and extended the credit and also added documentation requirements for claiming the credit. Here are the new requirements:
- You must have bought — or entered into a binding contract to buy — a principal residence on or before April 30, 2010.
- If you entered into a binding contract by April 30, 2010, you must close (go to settlement) on the home on or before Sept. 30, 2010 (recent legislation extended the June 30 deadline previously in effect).
If you have any questions regarding the first-time homebuyer credit, contact Paul by clicking here.