Attention Buyers

The Law Office of Frederick Xlander wishes to remind you of the First-Time Home Buyer Tax Credit. This is a tax credit of up to $8,000.00 for first-time home buyers. The tax credit is equivalent to 10 percent of the purchase price of the home -- although it is capped at $8,000.00. This applies only to buyers of principal residences. This tax credit does not have to be repaid.   

In order to obtain this credit, the transaction needs to close before December 1, 2009.

The month of November will be busy with impending holidays and it can easily take two months, start to finish, for a transaction involving a mortgage loan or a title issue. Thus, this is a reminder to act by early October 2009 if you hope to close on time to benefit from this tax credit.