The homebuying tax credit has come and gone, at least for anyone who was looking to purchase new Miami Beach real estate. The rest of current buyers are probably somewhere in the middle of attempting to actually close on the sale before the deadline of June 30th which—considering today is already the 16th—is right around the corner. If you’ve been racing to get all that taken care of, you may have some room to breathe.
Lawmakers are considering extending the tax credit deadline by an additional three months until September 30. This proposal is also being supported by the National Association of Realtors and mortgage lenders dealing with a glut of borrowers looking to get approved for their purchase before time is up this month.
There’s a slight caveat to this proposal new buyers should be aware of. If you haven’t already purchased Miami Beach condos or whatever other home you had in mind, this extension only applies to buyers who have already signed contracts so you’re still out of luck. Are you among the many hustling to make sure you guarantee yourself those $8,000 dollars?