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Buyer Rebate Plansm

  • We share our commission with you up to 50%
  • We schedule and attend home showings
  • We prepare and submit all contracts for you
  • We give you a large rebate check after closing
  • Find out more about Real Estate Rebates
Determine how much cash you will receive at closing with our Buyer Rebate Plan:

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Government Homebuyer Tax Credits

The Extended and Enhanced First-time Homebuyer Tax Credit

Government Homebuyer Tax Credits Expire on April 30, 2010

On November 6, 2009, Congress passed the Worker, Homeownership and Business Assistance Act of 2009 which extended and enhanced the popular first-time homebuyer tax credit enacted in February 2009. The new Act:

  • Extends the First-Time Homebuyer Tax Credit of up to $8,000 until April 30, 2010
  • Expands the program to include a tax credit of up to $6,500 for current homeowners purchasing home between November 7, 2009 and April 30, 2010

Eligible homebuyers can also receive $1,000s in cash rebates after closing by using our Buyer Rebate Plan. Under this plan, we share up to 50% of our commission with our buyer clients upon the purchase of an MLS-listed home.

The table below provides a comparison of the available tax credits passed under the February 2009 and November 2009 Acts. If you have specific questions about the tax credits, please contact your tax professional or the Internal Revenue Service.

Feature Rules Enacted in Feb 2009 Rules Enacted in Nov 2009
First-time Homebuyer Amount of Credit $8,000 ($4,000 married filing seperately) Same
First-time Homebuyer Eligibility May not have had an interest in a principal residence for 3 years prior to purchase. Same
Current Homeowner Amount of Credit No Provision $6,500 ($3,250 married filing separately)
Current Homeowner Effective Date No Provision November 7, 2009
Current Homeowner Eligibility No Provision Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Termination of Credit Purchases after November 30, 2009. (Becomes April 30, 2010 on November 7, 2009) Purchases after April 30, 2010
Binding Contract Rule None So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close
Income Limits $75,000 – single
$150,000 – married
Additional $20,000 phase out 		$125,000 – single
$225,000 – married
Additional $20,000 phase out
Limitation on Cost of Purchased Home None $800,000 on November 7, 2009
Purchase by a Dependent No Provision Ineligible on November 7, 2009
Anti-fraud Rule None Purchaser must attach documentation of purchase to tax return