Although HomeBuyerTaxCredit.com was created by the principals at Better Homes and Gardens Rand Realty in New York, we want the site and its resources to be available to agents and clients throughout the country. And although the site does allow for clients to ask for a referral, which we we place through our internal relocation department, we want agents who use the site to know that we are not looking to refer clients who come to the site through the efforts of an agent they are already working with.
For those reasons, we have set up a number of resources for agents and brokers who want to take advantage of everything that HomeBuyerTaxCredit.com has to offer.
First, if you have a client you’d like to refer to the site, to take the Eligibility Test or read through the resources on the site, feel free to “register” that client with us to protect your client from a referral. Of course, we expect that any client you send to the site would be unlikely to ask for a real estate referral, but just in case they inadvertently sign up for a referral, we will make sure that “referral” goes to you directly, without referral fees. If you wish to register a client for the site, just go here.
Second, if you would like to market yourself as “certified” in understanding the Home Buyer Tax Credit, we are happy to offer an informal “Home Buyer Tax Credit Certification” for expertise in the Home Buyer Tax Credit. You can get your Certification by taking our exclusive Home Buyer Tax Credit Certification Quiz, which provides you with a series of 20 questions (10 easy, 10 hard) that challenge your knowledge and understanding of the tax credit.
The Certification Test is educational and diagnostic, not intended to “score” your results. Rather, as you go through the test, you’ll be told whether your answer to each question was correct or incorrect, and why. That way, you’ll learn about the tax credit as you go through the exam, resulting in your certification.
When you’re done, you’ll have a chance to get a “Certification Page” that you can link to for your Facebook or Linkedin page, if you want.
If you want to take the Certification Quiz, click here.
Hoping to give the best information and be knowlegeable about the tax credit.
Great Job
The Home Buyers Tax credit page is a wonder of knowledge and education for consumers and professionals. Everyone should be up on this vast information right now. The more the public knows and learns about this subject , the more people every where have something to talk about in a general conversation. This site is a great tool for all. I know I will be taking full advantage of it.
Having buyers that will benefit from this…I say, it’s a very good thing!!
What a great tool. I am sending the link to the Home Buyer Tax Credit information to all of my present and past clients. Thank you for making this available to the public.
The Home Buyer Tax Credit Information Page really helps consumers know what does and does not work for them. They can review this in the privacy of their own home and determine their own readiness to jump into the market. I love what this site does to empower consumers. When they are ready to go, I am ready to assist them with any questions they may have.
Joe, I have a client who thinks they can get under contract by April 15 submit their return by ‘Turbo Tax’ or the like, get the refund within 10 days or so of filing and use the money for the downpayment..possible? I told them I didn’t think it would work, but don’t want to give them bad info. Thanks!
Hi @Bernadette, nice to see you here. It’s impossible for your client to do that, for a couple of reasons. First, you cannot claim the credit on your taxes until after your closing. Second, you can’t use “Turbotax” or any other efiling mechanism to file your taxes and claim the credit — you have to do a physical filing, because you need backup documents. Although some commentary has indicated that FHA loan applicants can take the credit at the closing table, we don’t know any banks that are actually doing it. See if your buyer can get a seller’s concession, instead. Hope this is helpful.
Joe, have a divorced client still on the deed with the ex, has a vacation home in NC wants to know if he can buy a primary residence and qualify for the 6500. Income under 120K…I think yes…
Hi @Bernadette, thanks for posting. Assuming eligibility under the main requirements, your client would qualify as a first-time home buyer (eligible for up to $8,000) if he has not lived in the vacation home in three years. Vacation homes do not affect status as a first time home buyer. If your question is actually whether he qualifies as a repeat home buyer on ANOTHER home (like, where his ex lives), I need more information on that.
Joe – my question actually is if he would qualify as a buy up. I was confused because of the vacation home. So as long as he hasn’t lived there in 3 years he should be ok. He has been renting in NJ where he lives now, is still on a townhouse deed with an ex wife (Suffern Townhouse listed with BHG).
Hi @Bernadette, you might want to be more specific with your facts. First, the fact that your client owns a vacation home will not prevent him from claiming a first-time home buyer tax credit if he has not lived in that home as his primary residence within the past three years. But second, the fact that he is on ANOTHER deed with an ex-wife raises the question of whether (1) he lived in THAT home within the past three years, or (2) he was married within the past three years to that wife, and SHE lived in the residence. The IRS has been pretty hard on married couples where one spouse lives in the former marital home, and your client’s ownership of a home that his separated wife lived in would prevent him from being a first-time home buyer. If he’s been divorced for more than three years, it’s not an issue, but if not, it might be something to look at. Check out the IRS statements here.