Up To $8,000 Federal Tax Credit Plus
State Tax Credit Up To $1,800
Plus Up To 1% of the Sales Price Cash
Rebate From Us After Closing
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers. Plus a 1% of the Sales Price Rebate Directly From Us After Closing. This amount minus .12% (FMLS fee) of the sales price will paid directly to you within two weeks after closing. As an example purchase a $300,000 home and out of the 3.5% commission our firm earns we will rebate to you $2,640.00. Buy a more expensive home and the rebate goes up. Broker rebate applies to all buyers not just first time buyers. Contact Van Purser for more VanPurser@VanPurser.com. 770-623-3313.
How the 2009 First-Time Home Buyer Tax Credit
Who Qualifies?
First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Which Properties Are Eligible?
The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Will the Credit Be?
The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:
The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.
The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.
What if I have Already Filed my Taxes For This Year?
For those that have already filed their tax return due on April 15th of this year; you need only filed an amended return to receive your tax credit this year. That means as long as you buy a home this year you can still receive the tax credit.
Plus a 1% of the Sales Price Rebate Directly From Us After Closing
This amount minus .12% (FMLS fee) of the sales price will paid directly to you within two weeks after closing. As an example purchase a $300,000 home and out of the 3.5% commission our firm earns we will rebate to you $2,640.00. Buy a more expensive home and the rebate goes up. This offer expires on December 31, 2009.
This rebate offer is subject to broker earning a minimum commission of 3.5% of the sales price. If commission earned by broker is 3% of sales price a rebate of 1/2% of the sales price, minus .12% (FMLS fee) will be rebated. No rebates shall be paid on commissions paid broker of less than 3%. All information is considered correct but is not warranted.
