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Welcome to the NEW Valet Real Estate Services website! We hope you enjoy our site and look forward to any comments or questions you may have. Visit the Contact Us page to send us a message.
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The $6,500 Move-up/Repeat Home Buyer Tax Credit at a Glance
-To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
-The tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.
-The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500 and applies only to homes priced at $800,000 or less.
-Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
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$8,000 First-time Home Buyer Tax Credit at a Glance
-The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.
-The tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.
-The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000 and applies only to homes priced at $800,000 or less.
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