answersLogoWhite

0


Best Answer

There are currently no federal programs that allow for you to receive a tax credit based on the fact that you sold the home to a first time home buyer. You should check if there are any state programs available.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: If you sell your home to a first time home buyer is there any tax break when you buy your next home?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

If you are married and your home is in only your spouses name only he is on the loan and the title would you be considered a first time buyer if the next home purchased was only in your name?

Yes.


How can one UK resident get a first time home buyer mortgage?

A UK resident can get a first time home buyer mortgage through a local financial institution such as "RBC Royal Bank" and "Halifax". Often they will also qualify for tax credits the next time they file income taxes.


Please define Active Capa.?

Presumably you saw this next to a house listing. From a Google search I learned that CAPA stands for "Can Accept Purchase Agreement." This means the seller has agreed to sell their home to a buyer, pending that buyer first selling their own home. These deals depend on the Buyer selling their own home first, so of course, Active CAPA properties may stay CAPA for some time, but for all intents and purposes a deal is in the works, and the property is unavailable to other interested buyers.


After foreclosure on a first mortgage is the next buyer of the property liable for the second mortgage?

In almost every state, the answer is "NO".


Who satisfies liens on foreclosed property?

The person responsible for the liens must satisfy the liens. When a home is foreclosed on, the liens are removed before the next buyer purchases the home.


If buyer changes mind on home purchase which does not fall within the contract what remedies does the seller have regarding the signed contract?

The seller is interested in selling the property and not getting into a legal battle over breach of contract. Keep the deposit and move on to the next buyer.


How do you do the bridge?

First, break your backbone. Next, bend your back! More funny answers from Answerguy 23!


What is next step after car title is signed by seller?

release the vehicle to the buyer


HelloIn englishyou say our home is next to your home or next your home?

next to your home


Do marines get a Christmas break?

in depend on when there next break is


How do you break the box in the first dungeon as wolf link?

stand next to it and shake the nunchuk as for the gamecube version... idk


How do you get to the first Pokemon gym on Pokemon silver?

Well... you have to start from your home town then go to the next town then go to the next town and you will be there