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Are there any restrictions to the new tax credit?

According to the IRS, if any of the following describe your situation, a credit would not be due. • You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild. • You do not use the home as your principal residence. • You sell your home before t ... view answer >

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# Question Guru Date Answered
21 Can Unmarried co-purchasers get the home buyer tax credit? Colleen Starr 02/26/2010
22 My family will be relocating to the Hampton Roads area soon, and the quality of schools is a key concern as we have a child in middle school and one that will be in high school next year. Can you recommend a site with factual information? Brian Sklute 02/26/2010
23 What does "recourse" mean on a short sale? Brian D. Lytle, Esq. 02/26/2010
24 I am considering purchasing a house that is in a neighborhood with a homeowners’ association. Will I get to see the “rule book" before being obligated to making the purchase? Brian Sklute 02/23/2010
25 If I have already purchased land and plan to build a home now, will I qualify for the 1st time home buyers tax credit? Heather Moorefield 02/20/2010
26 What is an REO and should I buy one? Carol Davanay 02/12/2010
27 When must a home seller in Virginia supply the purchaser (buyer) with a disclosure or disclaimer statement? Tim Parker 02/12/2010
28 What is an "escrow" account? Tim Parker 02/12/2010
29 What is" marketable" title? Brian D. Lytle, Esq. 02/11/2010
30 I'd like to sell some investment property. Can I avoid paying capital gains? Colleen Starr 02/11/2010
31 Why should I buy owners title insurance? Brian D. Lytle, Esq 02/10/2010
32 What form do I file to get the tax credit? Heather Moorefield 02/10/2010
33 What are the new EPA guidelines on the phase-out of Freon®-fueled air conditioning equipment and will it be more expensive? Carol Davanay 02/10/2010
34 Do I need flood insurance? Carol Davanay 02/09/2010
35 Why is a Short Sale called a "short" sale when it takes so long to close? Teresa Cline 02/07/2010
36 What does "As Is Where Is" mean in a contract? Erik Colson 02/07/2010
37 I declared bankruptcy 2 years ago. Can I buy a house? Erik Colson 02/07/2010
38 I bought a house last year. What can I deduct on my tax return? Liz Moore 01/31/2010
39 What happens if I can't close on the settlement day in the contract? Shirley Hammond 01/30/2010
40 How do I find the value of a commercial property? Karen Reinthaler 01/30/2010

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