Rules on New home buyer for credit?

cicy33

$ Saving College Junior

Join Date: Jun 2005

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#1

Rules on New home buyer for credit?

09-21-2009, 05:42 AM

We are buying our home on a contract with the actual home owner. No bank involved. We did this for a variety of reasons. But the question is do we qualify for the credit? Just because we aren't going through a bank doesn't mean we aren't buying the house. We have an actual written contract. We just did this.
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momof1in150

$ Saving Jr. College Student

Join Date: Apr 2007

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#2

09-21-2009, 05:50 AM

Originally posted by cicy33 View Post

We are buying our home on a contract with the actual home owner. No bank involved. We did this for a variety of reasons. But the question is do we qualify for the credit? Just because we aren't going through a bank doesn't mean we aren't buying the house. We have an actual written contract. We just did this.

Yes, you qualify for the credit. You will need to file a deed with your town/city and that will prove that you own the house. I would highly suggest a real estate attorney to help you with this process.
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