If you are considering the purchase of a home (or know of someone who is considering the purchase of a home), the time to take advantage of government tax credits is evaporating rapidly. To qualify for the tax credit, the Buyer must have a signed, binding Contract by April 30, 2010 and close by June 30, 2010. The tax credit no longer applies to first-time home buyers only. It also applies to repeat home buyers who have lived in their current home for five consecutive years out of the last eight years. The tax credit for repeat home buyers is now up to $6,500 and up to $8,000 for first-time home buyers. There are annual income restrictions of $125,000 for single buyers and $225,000 for couples. The purchase price of the home must be less than $800,000. You must act quickly to take advantage of this tax credit. Only an experienced real estate attorney can assure that your real estate transaction and resulting tax credit will move forward smoothly and quickly. With 25 years of experience handling hundreds of closings, we are equipped to handle any real estate situation. Please contact us for more information.