Profile picture for sdgrinds

1st Time Tax Credit Eligibility w/ seller contingency?

Signed contract w/ FSBO prior to Apr30.  Contingent on 1-seller purchase of new home by July 30, 2 - my financing approval.
Seller closing on new home Sept 10.  Ready to finish my financing approval.
If I can close by Sept 30 - will I still be eligible for 1st time credit since there was seller contingency clause from so long ago?

  • August 23 2010 - Hickory
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Answers (3)

Profile picture for Mills Realty
The contingencies have not barring on the tax credit.  As stated by other commentors as long as you close by 9/30 you are qualified.

Simon Mills
Mills Realty
  • August 23 2010
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As long as you were under contract by April 30th and can close by September 30th you are fine.
  • August 23 2010
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Profile picture for wetdawgs
The two dates of April 30 and Sept 30 closing appear to have potential to still be met.   Therefore, why not?
  • August 23 2010
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