Buy an Abacoa Home for Sale Before the April 30th Tax Credit Deadline

First time homebuyers looking to buy an Abacoa home were excited last November when Congress approved an extension for the first-time homebuyer tax credit.  It gave potential Abacoa home for sale buyers a second chance to receive an $8,000 tax credit on their tax return.

Abacoa real estate agents were even more excited when the extension on the tax credit was made to include those Abacoa home buyers who were looking to buy a new home, but did not qualify as first-time homebuyers.  After all, $6,500 is still quite a substantial amount to claim as a tax credit.  This extension also brought a lot of hope for the Abacoa home sellers who had been eagerly waiting for any good news on the economic front, and that was not the only change the extension brought.

Other items potential Abacoa home buyers should also take note of before taking advantage of the tax credit:

• Before shopping for a home, make sure that you get pre-approved so both you and the seller know what you can afford and also to help enable a smooth transaction prior to closing.
• The closings must be complete by June 30.
• You must sign a contract before April 30.
• Do not let yourself get emotionally tied to the property or the buying process. Try to keep your requests reasonable, especially if you really want that particular property.
• You have to mail your taxes in in order to get a return.  Electronically submitted taxes will not be accepted due to potential fraudulent filings.
• Filing your tax return early and on the right form will allow you to receive the tax credit without any undue delays.
• Include a signed mortgage statement provided at closing, along with a copy of your Florida drivers license will let the IRS know that you are not a potential scam artist.
• The current inventory of Abacoa homes for sale gives buyers plenty of opportunity to shop around for the perfect Abacoa home, townhome, or condo.

If you’d like to take advantage of the homebuyer tax credit, I can help. Call me at 561.309.0154 or email me so I can help you beat the April 30, 2010 deadline.