If you are a First Time Home Buyer (you have not owned a home for at least three years), you can qualify for a tax credit for 10% of the purchase price of your primary residence up to $8,000 depending on your income. If you own the home for at least 3 years, you don't have to pay the tax credit back.
Most people don't seem to be aware of the time it takes to find the home, qualify for financing, go through the contract negotiations and all of the details with inspections, surveys, title, final lender approval and finally close. After the contract is negotiated and finalized, it normally takes approximately 45 days to close on the house, if everything runs smoothly and no surprises arise during the process! This closing day must happen by November 30, 2009 to qualify for the tax credit!
So if you would like to take advantage of this opportunity, now is the time to buy...the clock is ticking!
For more details of the tax credit, visit my link on www.BuyaHouseorCondo.com on my main page under News for Buyers and Sellers or feel free to call my toll free number... 877-899-CHGO (2446) and I will be happy to help you.