Getting your player ready...
WASHINGTON — Homebuyers would get an extra three months to complete their purchases and qualify for a generous tax credit under a bill overwhelmingly passed by the House on Tuesday.
Under current law, homebuyers who signed purchase agreements by April 30 have until today to close on the sale to qualify for tax credits of up to $8,000. The bill would give buyers until Sept. 30.
The extended deadline applies only to people who signed purchase agreements by April 30. The National Association of Realtors estimates that about 180,000 homebuyers who already signed purchase agreements are likely to miss today’s deadline.
The bill, which passed 409-5, now goes to the Senate, where a similar measure is sponsored. The Associated Press
