Buying Your First Home? Real Estate Agents Are Your Professional Guides. Make Sure You Choose Top Experts for your property in Wilmington, Newark and Greenville. 
FIRST TIME HOME BUYER TAX CREDIT
As Modified in the American Recovery and Reinvestment Act The $8,000 First-time Home Buyer Tax Credit at a Glance (view PDF)
•The $8,000 tax credit is for first time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase. •The Tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.•The Tax credit is equal to 10% of the homes purchase price up to a maximum of $8,000. •The Tax Credit applies only to homes priced at $800,000 or less.•The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify. •For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.•For homes purchases after November 6, 2009, and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit. The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance (view PDF)
•To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for 5 consecutive years out of the last 8 years. •The tax credit does not have to repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.•The tax credit is equal to 10% of the home’s purchase price up to a maximum of $6,500. •The tax credit applies only to homes priced at $800,000 or less.•The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010 the home purchase qualifies provided it is completed by June 30, 2010. •Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for a full tax credit  You might be somewhat intimidated by the whole process of buying your first home. As top Wilmington, Newark and Greenville real estate experts, it's our job to guide you, from beginning to end. We can assist you also with homes in the surrounding areas of Delaware, Pennsylvania and Maryland. We will take the time to go through each and every step of the buying process. There are no dumb questions! Together, we will consider: - How much can you really afford? - How to qualify for a mortgage. - How much cash you should put down. - How to buy a home with little or nothing down. - What it takes to get approved for financing. What banks and other financial institutions are looking for. - How much your payments will be. - The tax advantages of buying. - Is renting or buying better for you? Tell us a bit about your situation below. We'll get right back to you. There is absolutely no charge, and we offer this to you with no strings attached. New to the home buying process? Tell us your concerns. Ask us questions. It's our job to help! There's no obligation, and we promise to get back to you quickly... |
Working With An Agent >Real Estate Match Makers When you list your house with a real estate agent who participates in the Multiple Listing Service (MLS), you get a lot of service for your money. Depending upon the MLS region, there may be hundreds of participating members.
The real estate agent who lists your home works to get it sold. This is done by marketing directly to home buyers, but an even more powerful tool is marketing your home to other agents who have buyers. Your real estate agent makes all the crucial information about your home available to the other members through the MLS, such as location, size, the number of rooms, the style of architecture, what personal property is included, and any other special features. The MLS description will also contain information about any special financing that might be available, showing instructions, and special needs you may have with respect to closing. It is a powerful tool for real estate matchmakers.
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What is the world's longest frontier?
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At 3,987 kilometers (3,987 miles), the border between Canada and the U.S. is the longest in the world. |
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