Here’s a very simplified video explanation of the $8,000 first-time home buyer tax credit.
My reason for posting this now is to emphasize the time frame. If you are wanting to take advantage of this $8,000 gift from our federal government, then you need to have your dream home under contract by mid-October. Anything later, and you run the risk of the transaction not closing/recording by the November 30th deadline. And at this moment, there is no grace period or extension. Just wanted you to be aware.