Kathy Engel & Vid Lopez

Engel Lopez Real Estate
Broker Associates
kathy engle vid lopez

Kathy - 302-542-3846 -
Vid - 302-542-2435 -
16392 Coastal Highway, Lewes, DE 19958

Tax Time

We’re all getting our information to our accountants this time of the year. This year you may be eligible for a tax credit if you bought a home last year.

In 2008, congress passed a home buyers tax credit, which has been changed and extended over time.

Some factors to consider to see if you are eligible:

  1. You must have signed a contract to purchase your primary residence by April 30, 2010.
  2. You had to settle on the property by June 30. Congress added an extension, up to September 30, with stipulations.
  3. First time homebuyers credit can be up to $8,000.
  4. Repeat homebuyer credit can be up to $6,500.
  5. First time and repeat home buyer are limited to homes purchased for less than $800,000.

This is just a reminder for those of you who purchased last year. Check with your Accountant for details on the above items, and YOU may save!