The deadline is fast approaching for first-time home buyers to receive a federal income-tax rebate up to $8,000. Eligibility requirements are as follows:
1. MUST close by November 30, 2009
2. Tax rebate is 10% of the purchase price UP TO A MAX of $8,000
3. The home buyer cannot have owned a home in the past 3 years.
4. Income limits are $75,000 individuals, $150,000 filing jointly.
5. You cannot purchase from a close relative.
6. Buyer's must live in the home for AT LEAST 3 yeras or you will have to repay the rebate.
Terry S. Smith is Broker Associate for DPR Realty LLC. He grew up in Scottsdale Arizona and have lived in Arizona for 43 years. You can reach him at Terry@AZLenderForeclosure.com or call him at (602) 763-1858
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