I have been asked many times now from my local Lodi and Stockton home-buyers the same question about the $8,000 tax credit. So much so that I decided to post just a short and simple Q & A blogpost.
Question: Can I use the $8,000 tax credit toward my down payment or closing costs?
Answer: No
BUT, to elaborate a little on this subject, remember that we can always request that the Seller contribute some or even all of your closing costs. At Realty World – Davis Homes & Properties we have been very successful in requesting these be paid by the Seller and having that request be accepted.
Make it a great Offer Day!
Randy
Your answer is right on. The buyer can receive a gift from a family member or friend and gift back to them when they have the taxes done!