Should Buyers Try to Beat the Tax Credit?

Daily Real Estate News  | February 26, 2010

Should Buyers Try to Beat the Tax Credit?
Some potential home buyers say they’re holding out until the tax credits expire on the theory that prices will decline once the buying incentive is gone.

One person who commented on the dilemma on Zillow.com wrote: “I’ve seen prices in my neighborhood jump up over $30k since the credit started.”
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IRS Clarifies What’s Needed to Claim Tax Credit

Daily Real Estate News  | February 22, 2010

IRS Clarifies What’s Needed to Claim Tax Credit
The Internal Revenue Service has clarified which documentation taxpayers need to submit to claim the first-time and move-up homebuyer tax credit.

While the IRS is still requiring the filing of Form 5405, it is not demanding that all parties’ signatures be on the HUD-1 settlement document in areas where requiring both the buyer and the seller to sign the document isn’t common.
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