Foreclosure Stipulation
Are there certain stipulations to receive the new home buyer tax credit?
I was interested in buying a foreclosure and fixing it up for rental or resale.
It has to be your primary residence. So no investors. You also will qualify if you have not bought a home in the last 3 years. When you close you will sign a piece of paper with the amount you are due back. You will then have to file your taxes and wait for the government to mail you the check. If you owe the irs anything they will deduct it from the $8000.
