Congress Passes NEW $6,500 Home Sellers Tax Credit

Nov. 8, 2009 - PRLog -- Congress overwhelmingly passed an extension of the First Time Homebuyer’s Tax Credit on November 4, 2009. The new law expanded the existing program to include home sellers that purchase a replacement property by April 30, 2010.

In order to take advantage of the $6,500 tax credit, home sellers must meet a few specific criteria.

1.   Sellers must have owned their current home at least five years and must have lived in that home at least five of the past eight years.
2.   Income limits are $150,000 for individuals and $225,000 for couples.
3.   The replacement property may be more expensive or less expensive than the home that is sold.
4.   Sellers must be under contract to purchase the replacement property by April 30, 2010 with a real estate closing by June 30, 2010.
5.   The purchase price is capped at $800,000.

Please visit our website at http://www.denver-homesforsale.com or call 800-515-0657 toll free to complete our Denver home buyer questionnaire to help us better find your dream home.

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Are you looking to buy or sell a Denver home? Our team of RE/MAX Realtors is here to assist you. We take care of all the important and necessary details so you can focus on moving. For expert Denver real estate work, call (303) 718-4148 or (800) 515-0657.