The Real Deal Miami

Coldwell Banker offers its own discounts as federal tax credit expires

April 27, 2010 09:53AM

While the two primary federal homebuyer tax credits will expire at the
end of the week, Coldwell Banker is trying to keep sales moving by
offering a credit of its own. Participating home sellers will give
buyers three percent credits, up to $8,000, the same amount as the
higher of the two federal tax credits, for contracts signed by July 31.
The buyers will receive the 3 percent refunds at closing, and there
is no deadline for completing the transactions. Under the expiring
federal rules, first-time homebuyers can, with some conditions, get up to $8,000 in credits
on their taxes if they sign a contract by April 30 and close by June
30. Those wishing to buy new primary residences can receive $6,500. [Sun Sentinel]