Buying a New Home With The Homebuyer Tax Credit Down to the Wire

 Due to a continuously increasing stock and a languishing housing market, there are a large number of San Antonio homes on the market, which is a good thing for anyone who is looking to take advantage of the home buyer's credit before it expires. The home buyer's credit was extended last November after it helped to stimulate numerous home sales across the nation by buyers eager to take advantage of the savings the program provides.
 
 To obtain the tax credit for buying a new home, there are a few steps that you need to be aware of; you must have a binding contract by April 30th, 2010 and you must complete your closing sixty days after the contract date. New buyers can get a return of 10% of their purchase price up to $8,000 and buyers who have lived in their previous home can get a return of 10% of the purchase price up to $6,500.
 
 While the home buyer's credit extension has not supported home buying across the nation to the extent that the government hoped it would, there is hope that these last weeks before the expiration of the program prove to drive up the numbers of home buyers signing contracts. Before the initial expiration of the program, home buyers were in a mad rush to sign contracts on San Antonio homes before the tax credit ended; only time will tell if the same will happen with the April 30th expiration as well.
 
 Time is definitely of the essence if you are looking to buy a home on such short notice like this, and make sure that you do not skimp on things like the inspection, or option period.
 
 While there is certainly a benefit to having the luxury of time to research homes for sale in your area more thoroughly, it is quite possible to take advantage of this offer even with time running out on this government program. Make sure that you let your REALTOR® know that you are going after the buyer's tax credit so that they can guide you appropriately. A sale that does not have a time limit requires a different buying strategy than one where you need to have a contract in place by a particular upcoming date..
 
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