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Pensacola Real Estate – Tax Credit Information

It takes time to find the right Pensacola home for sale that suits your needs. Finding and getting real estate under contract rarely happens quickly. There are currently over 4500 Pensacola homes and condos for sale. If you want to take advantage of the tax credit, you need to move quickly. There are only 54 days left (from March 6, 2010) to get a home under contract by April 30, 2010. Next, the home must be closed by June 30. This is not a lot of time.

If you decide to purchase a Short Sale property, the chances of getting it under contract before the deadline are very slim. (See article Short Sales – Are They Worth It). However, there are many affordable conventional sales available, and quite a few bank owned properties on the market.

Here are some links to help you understand more about the homebuyer tax
credit and take advantage of it:

IRS First-Time Homebuyer Credit Q & A
 

IRS Form 5405 (to take the tax credit)

Frequently asked questions about the $8,000 first-time home buyer tax
credit

Frequently asked questions about the $6,500 tax credit for repeat home buyers

Some key points for prospective home buyers

Pensacola Military: Since we have such a high military presence in
Pensacola (thank goodness, what would we do without you great men and
women), the link below is very important to members of the military who
are looking for Pensacola Homes For Sale before the tax credit deadline.

Special rules that apply to members of the military, the foreign service and the intelligence community

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