Florida Real Estate News
Legislation Extends Flood Insurance/ Tax Credit through Sept 30
After a close brush with the deadline, Congress passed an ex- tension of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extensionappliesonlytotransac- tions that have ratified contracts in place as of April 30, 2010 that have not yet closed. The legisla- tion is designed to create a seam-
less extension; the new closing deadline for eligible transactions is now September 30, 2010.
Additionally, the United States Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569) an extension of the National Flood Insurance Program until September 30, 2010. This will allow transactions to move
forward. The bill is retroactive and covers the lapse period from June 1, 2010 to the date of enacment of the extension.
For more information visit www.FloridaRealtors.org
Sanibel Captiva MLS Market Watch:
Past 5 Days, 3 Condos went under contract
- Sundial
- Tarpon Beach
- Tennisplace
-Mark & Teresa
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