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 Posted: Mon Sep 28, 2009 7:15 pm Post subject: Does an owner financed property qualify for first time homeb |
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| Selling home on contract. Wondering if contract should be written in a specific manner to allow buyer the ability to qualify for the first time homebuyer taxcredit. |
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 smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Mon Sep 28, 2009 9:31 pm Post subject: |
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Hi Guest!
Welcome to forums!
You can contact an attorney and get the agreement drafted from him. He will draft the agreement in such a way that the that the buyer would receive the first time homebuyer's tax credit. Also, make sure that the deal is closed before the end of the Tax Credit period.
Feel free to ask if you've further queries.
Sussane |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7448
Location: bloomfield, ct
70.12 Dollars($)
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| Posted: Wed Sep 30, 2009 12:54 pm Post subject: |
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the tax credit applies to a first time homebuyer. whether financed by a bank, a mortgage company, a private individual or paid for in cash, it is the purchase of a home that will qualify a person. i doubt that any particular language is needed. all a person has to do is to document the purchase of a home.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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