Q & A on New Home Buyer Tax Credit

The National Association of Realtors Web site has a nice Question & Answer section about the new credit

The Realtors’ spokesman tells me that the new credit will start tomorrow, not today.

“We rechecked the effective date for the repeat buyer,” spokesman Walt Malony said in an e-mail. “The effective date is ‘after the date of enactment.’Today is date of enactment, so the fun begins tomorrow, Nov. 7.”

Judging from all of your questions, tomorrow is going to be a confusing day for buyers, sellers, and the real estate agents, brokers, and attorneys advising them.

View the original article here