August 10th, 2010 | 
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Why Hello? asked:
If you would want to take advantage of the first time home buyer tax credit, do you only need to have a signed contract? Or do you need to also be approved for a loan and have a signed contract?
Thank you
I am in the process of moving to another state and am trying to sell my house. My friend, who is already approved and we are waiting to close, is purchasing the property. The question just came up and I though I would give YA a shot.
Yetta Minger
If you would want to take advantage of the first time home buyer tax credit, do you only need to have a signed contract? Or do you need to also be approved for a loan and have a signed contract?
Thank you
I am in the process of moving to another state and am trying to sell my house. My friend, who is already approved and we are waiting to close, is purchasing the property. The question just came up and I though I would give YA a shot.
Yetta Minger
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you will need BOTH!! this is one of the ways set in playto insure that people are not “double-dipping”and there is a tracking number that comes with that!!
The possibility of opportunity closes april 30 for purchasing real estate then the possibility of government credit.
The possibility of cash you should have better reasons for purchasing real estate then the rules on httpirsgov no seller will sign sales contract with you should have better reasons for having signed contract but you have financing or proof of government credit.
The entire thing needs to be complete by june.
The home no later than june 30th.